Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Reports $17 Million in Revenue and 200% Net Income Increase to $1.1 Million
Six Month Results Ahead of Pace to Meet 2009 Forecasted Profitable Revenue Growth
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - August 20, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has filed its second quarter 2009 financial results on SEC Form 10-Q.
The Company reported $17 million in revenue and an over 200% net income
increase to $1.1 million through the first six months of 2009. The Company
has forecasted profitable revenue growth in 2009 compared to 2008. The
first six months results beat management expectations. The Company's
financial performance is ahead of the pace anticipated by management as
necessary to meet year end revenue and net income growth objectives. The
Company reported over $40 million in profitable revenue in 2008.
Webcast to Review Q2'09 Results, 2009 Outlook and $0.30 PPS Target PPS
China Crescent is scheduled to review the Company's second quarter 2009
financial performance in an on-demand Webcast tomorrow, August 21. The
Webcast will include an update on Management's optimistic outlook on the
Company's 2009 forecasted revenue and net income growth in light of the Q2
results and the recently announced sales contracts. The Webcast will also
include a review of the $0.30 fair value target pps and the ongoing
potential short squeeze. A link to the Webcast will be available tomorrow
on the Company's corporate website www.chinacrescent.com.
Corporate E-mail Updates
To sign up to receive company updates or to obtain more information on the
Company, please visit www.chinacrescent.com.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
Revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are
forward-looking statements that are made pursuant to safe harbor provision
of the Private Securities Litigation Reform Act of 1995. Actual results,
events and performance could vary materially from those contemplated by
these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.