Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Announces $66 Million in YTD New and Pending Sales Could Drive Increase of $50 Million Revenue Forecast for 2009
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 22, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
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. China Crescent reported over $40 million in
annual revenue in both 2007 and 2008 and anticipates business gained from
the new outsourcing service will add to the Company's existing revenue base
of approximately $40 million. In addition to the milestone outsourcing
service agreement signed earlier this year, China Crescent has also
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 in 2009, and management may
increase to the Company's $50 million 2009 revenue forecast following the
completion of the 3rd quarter report.
China Crescent 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.
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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.