China Crescent Enterprises, Inc. Credited for Deloitte Recognition
Tech Titans Fast Tech Finalist
DALLAS, TX--(Marketwire - August 24, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR)
today announced receiving notable credit in the Metroplex Technology
Business Council's (MTBC) Tech Titan Fast Tech award for the fastest
growing technology companies in the Dallas-Fort Worth (DFW) area as
compiled by Deloitte. The North Texas area contains over 4,000 technology
firms making it a very competitive arena. China Crescent 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, in which the Company reported over
$40 million in profitable revenue.
"China Crescent's growth has driven our Deloitte recognition," said Philip
Verges, founder, board member and CEO of China Crescent's largest
shareholder, NewMarket Technology, Inc. "Bolstered by China Crescent's
aggressive growth, our consolidated financial growth continues to win
recognition by Deloitte for fast growth in the technology sector. This is
the sixth year in a row the consolidated company has been named to the Tech
Titan's list, being recognized twice as the number one fastest growing
company. The consolidated company was recognized as the third fastest
growing technology company in the United States in 2006."
The Tech Titan Fast Tech program recognizes the fastest-growing technology
companies in the DFW area, based on percentage revenue growth over five
years (2004 to 2008) as well as percentage revenue growth over one year
(2007-2008). The Tech Titans Award Ceremony will be held Friday, August
28th. For more information on the Tech Titan awards, please visit
http://www.metroplextbc.org/Events/Tech-Titans.aspx.
Webcast to Review Q2'09 Results, 2009 Outlook and $0.30 PPS Target PPS
The Company recently released a Webcast reviewing the Company's second
quarter 2009 financial performance, which includes 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 also includes a review of the $0.30 fair value
target pps and the ongoing potential short squeeze.
A link to the Webcast titled 'China Crescent 2nd Quarter Review Webcast' is
available on the Company's corporate website under Recent Webcasts at
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.
Contact Information: Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3065