Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Anticipates Reporting Record Income From Operations for 3rd Quarter After Signing Over $30 Million in New Contracts Year-to-Date
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 30, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced that the Company anticipates reporting record income from
operations for the 3rd quarter. The Company reported record net income of
$1.1 million on $17 million in revenue through the first six months of
2009. China Crescent began servicing a $30 million, three-year contract
during the third quarter and anticipates that the revenue received from
this contract will result in a second financial report with record results.
China Crescent yesterday released a 3rd quarter preview on-demand Webcast
hosted by CEO Paul Danner on Company progress year-to-date, upcoming
potential milestone events and the previously discussed $0.30 suggested
fair value target price per share. The Webcast further details the
approximate $45 million in recently announced outsourcing contracts or
pending contracts and reviews growth opportunities in the technology
business environment in China, per recent reports by Business Monitor
International and the Wall Street Journal.
China Crescent is a technology systems integrator and value added reseller
of major global hardware brands, such as Lenovo, Dell and HP, in the
Chinese domestic market. The Company reported over $40 million in revenue
in 2008 and has forecasted $50 million in profitable revenue for 2009, with
plans to possibly increase the forecast following the completion of its
upcoming 3rd quarter financial report.
A link to the on-demand Webcast, titled 'China Crescent 3rd Quarter Update
with CEO Paul Danner Webcast,' is now available on the Company's corporate
website under Recent Webcasts at www.chinacrescent.com.
Corporate E-mail Updates
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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.