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Monday, December 04, 2006

China Expert Technologies (CXTI) wins another one

CXTI (combined links) announced that they won a new contract (details) in Fujian province: Minqing County of Fuzhou City. Most of their business is in Fujian, but this adds another government entity to their list and more revenue in the future.

Net total revenue is $22.3 million, with a $1.3 million cash sales fee to a consultant (Minqing Jin Nuo Information Technology Co., Ltd., No. 150, Jie Fang Da Jie, Minqing County, Fujian Province) for landing the contract. The consultant does marketing works, professional advice, policy advice. Kickback? I don't know.

Starts Oct 2007. Ends Sept 2010.

Planning (600K RMB)
Feasibility study (1 million RMB)
Hardware platform (17.4 million RMB)
Security platform (8 million RMB)
Application platform (7.8 million RMB)
Portal website (2 million RMB)
Unified Admin Approval System (10.8 million RMB)
Coordinated Office System (12 million RMB)

Looks a lot like the Shishi contract.

Back in the Q3 results, the backlog was $119.2 million (down from $125.7 million at the end of Q2). This contract probably keeps the backlog about the same at the end of Q4, maybe a bit higher.

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