BVI company China Information Technology, Inc. reported financial results for the first half of the year ended December 31, 2016. In this period, company’s revenues were US$7.24 million, and company’s net earnings were US$11.11 million. Earnings increased compared to the same period of the previous year, despite the decrease in operating and pretax margins.
Company’s gross margins narrowed from 38.90% to 22.86% in the first half of 2016, compared to the same period last year. Operating (EBITDA) margins now make -53.91%, from -12.75%.