Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. to Present Potential Expansion to $60 Million in Total Outsourcing Contracts Anticipated by Year End
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 12, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has scheduled an on-demand Webcast for release this Thursday, October 15th.
The Webcast will report on China Crescent's senior management outsourcing
summit in Shanghai that is currently underway. 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, China Crescent 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. Today, the Company announced that based on
positive client review, the $30 million outsourcing contract may be
expanded to as high as $50 million over the three-year span of the
contract.
The Webcast, scheduled for Thursday, is anticipated to include a review of
outsourcing contract opportunities that may bring the Company's outsourcing
sales to as high as $60 million for 2009 and to review the Company's
previously announced $0.30 suggested fair value target price per share.
The Webcast is scheduled to be available on the Company's website
www.chinacrescent.com upon release.
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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.