Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Anticipates Increased Revenue and Operating Income in Second Half of 2009
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 21, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
is a systems integration service provider in China that markets technology
outsourcing services that include the sale and service of brand name
technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell. China
Crescent reported over $40 million in annual revenue in both 2007 and 2008.
The Company reported $17 million in revenue and record net income with an
over 200% increase to $1.1 million for the first six months of 2009. The
Company's sales are historically seasonal with its largest sales and
profits usually occurring in the 4th quarter. The Company has forecasted
$50 million in profitable revenue for 2009 and has recently announced a
2010 objective of reaching a profitable annualized revenue run rate of $100
million.
Better than Expected 2009 Sales Pipeline
China Crescent has been marketing a new outsourcing service since the
beginning of this year and has already signed $30 million in total revenue
value over three years with Beijing Chuangzhitongda Technology Development
through the outsourcing services offering. The Company recently announced
a letter of intent to provide outsourcing services to Aoyuan Electronic Co.
ltd in Dalian, China, for $36 million over three years. The finalization of
the contract with Aoyuan would bring the total long-term revenue value of
China Crescent's outsourcing contracts signed in 2009 to approximately $66
million. Management anticipates the better than expected 2009 sales
pipeline may result in record operating income and profit on the Company's
forecasted $50 million in 2009 revenue.
Outsourcing Summit Webcast Available On-Line
China Crescent conducted a series of meetings across four cities in China
last week in conjunction with the Company's scheduled outsourcing
management summit, primarily aimed at reviewing and developing the
Company's growing technology outsourcing business. China Crescent posted a
Webcast to review the week's highlights. A link to the Webcast titled
'China Crescent Outsourcing Summit Review Webcast' is available at
www.chinacrescent.com under Recent Webcasts.
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.