China Security & Surveillance Technology, Inc. reported net income of $3.28 million, or diluted earnings per share of $0.05, for the first quarter of this year. The company earned $2.0 million, or $0.04 per share, in the same quarter last year.
China Security & Surveillance Technology, Inc. reported revenues of $120.2 million in the first quarter of 2010, compared to $96.4 million in the same quarter of 2009. The revenues in the quarter were split about evenly between government and corporate customers.
Guoshen Tu, the CEO of China Security & Surveillance Technology, Inc., said, “We delivered a strong first quarter. Momentum in the installation business continues, and execution across the Company is solid. I am particularly pleased with our robust growth in the government sector, driven by the safe city and e-city projects.”
China Security & Surveillance Technology, Inc. also saw its backlog of future business increase on a year over year basis, from $86.9 million on 3/31/2009, to $199.7 million in the quarter just ended. Most of this backlog is of short term duration and will be realized during the current fiscal year.
China Security & Surveillance Technology, Inc. is headquartered in Shenzhen, China, and provides electronic surveillance and safety products to customers. Products include cameras, recording and data storage devices and intruder detection equipment. The company went public in September 2005.
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