Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Anticipates Revenue and Operational Income Increase in Second Half of Year From Seasonal Trend and Exceptional Year-to-Date Sales
| Source: Bright Side, LLC
DALLAS, TX--(Marketwire - October 7, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced an anticipated revenue and operational income increase in
the second half of 2009 compared to the first half of 2009 expected from
the Company's historical seasonal trend and as a result of significant
sales year-to-date. In the past two years, the Company's revenue per
quarter has consistently grown throughout the calendar year, with the
highest quarterly revenues for the year coming in the fourth quarter.
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. Earlier this
year, the Company signed its first major outsourcing 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 forecasted $50 million in revenue for
2009 and has scheduled a senior management outsourcing summit next week in
Shanghai intended to focus on larger, long-term outsourcing contracts.
Progress Report Presentation Hosted by CEO Paul Danner
Last week, CEO Paul Danner hosted a presentation on the Company's progress
year-to-date and further details on the approximate $45 million in recently
announced outsourcing contracts or pending contracts. A link to the
online, on-demand presentation, 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.