Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Announces $100 Million 2010 Objective
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 14, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced the Company has set a 2010 objective of reaching a
profitable annualized revenue run rate of $100 million. The objective was
set by management and the board of directors based on the Company's
successful introduction of outsourcing services early this year. The
Company has already signed $30 million in total revenue value through the
outsourcing services offering and expects to sign over $60 million in total
revenue value by year end.
The Company is conducting a management outsourcing summit this week in
China. A review of the summit will be presented in an on-demand Webcast
scheduled for release on the corporate website tomorrow, October 15th.
The Webcast agenda includes a review of the Company's outsourcing
opportunities and a review of the Company's previously announced $0.30
suggested fair value target price per share.
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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.