Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Expects Record 4th Quarter Operational Income to Boost Comprehensive Net Income for the Year on $50 Million in Anticipated Revenue
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 5, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced the Company expects to report record 4th quarter
operational income that may boost comprehensive net income for 2009. 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. In an effort
to improve gross margins, the Company has been marketing a new outsourcing
service since the beginning of this year to increase the Company's
percentage of sales from recurring revenue. To that end, the Company
signed its first major outsourcing contract worth $30 million earlier this
year 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.
Webcast Hosted by CEO Paul Danner
Last week, China Crescent released an on-demand Webcast hosted by CEO Paul
Danner on Company progress year-to-date and further details on the
approximate $45 million in recently announced outsourcing contracts or
pending contracts. The Webcast also frames the Company's technology
services in the Chinese market within 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 Webcast, titled 'China Crescent 3rd Quarter Update with CEO
Paul Danner 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.