Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Schedules Webcast Update on 2009 Record Sales, Operating Income Growth and Potential PPS Performance to $0.30 Suggested Fair Value Target
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - October 23, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has scheduled a Webcast for Tuesday, October 27th, to review year-to-date
sales and operating income growth. China Crescent reported over $40 million
in annual revenue in both 2007 and 2008, and for the first six months of
2009, reported $17 million in revenue and record net income with an over
200% increase to $1.1 million. 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. Management recently announced that it 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.
The Webcast is also slated to review the previously announced $0.30
suggested fair value target price per share.
Better than Expected 2009 Sales Pipeline
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. The Company 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 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.
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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.