China Crescent Enterprises, Inc. Anticipates $32 Million in New Contracts in Fourth Quarter
DALLAS, TX--(Marketwire - October 2, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR)
today announced the Company anticipates signing on approximately $32
million in new contracts in the fourth quarter of 2009. China Crescent has
been marketing a new outsourcing service since the beginning of this year
to increase the Company's percentage of sales from recurring revenue and
improve the gross margins. Earlier this year, the Company signed an
outsourcing sales contract worth $30 million and has recently announced
signing a letter of intent agreement for an anticipated $15 million
outsourcing contract expected to be closed in the fourth quarter. The
Company has scheduled a senior management outsourcing summit October 12th
in Shanghai intended to focus on larger, long-term outsourcing contracts.
China Crescent is a technology systems integrator and value added reseller
of major global hardware brands, such as Dell and HP, in the Chinese
domestic market. China Crescent has already grown its Chinese business to
over $40 million in revenue annually and has a focus on the growing markets
in second-tier cities, rural markets, and small-to-medium enterprises
(SMEs) for expanding the Company's presence in China. Additionally, the
Company has plans for expansion into the growing markets of Southeast Asia
and East Africa to capitalize on the technology and technical
infrastructure needs of those regions as they continue to develop.
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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
214-722-3060