China Crescent Enterprises, Inc. CEO Paul Danner Releases 2009 Financial Outlook and Update on $66 Million in New and Pending Outsourcing Contracts
DALLAS, TX--(Marketwire - October 27, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR)
today released an on-demand Webcast with CEO Paul Danner to review record
year to date sales growth, with a focus on the Company's new outsourcing
services offering. China Crescent has been marketing a new outsourcing
service since the beginning of this year to grow its revenue base with
long-term services contracts that may also improve the Company's project
margins. The Webcast also provides an overview of the Company's record net
income for the first six months of 2009 and an outlook for the remainder of
the year.
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
the Company's $50 million 2009 revenue forecast following the completion of
the 3rd quarter report.
$66 Million in New and Pending Outsourcing Contracts
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 pending contract would be the second major
outsourcing contract signed by China Crescent this year, bringing the total
long-term revenue value of China Crescent's outsourcing contracts signed in
2009 to approximately $66 million. In the Webcast released today,
management discusses the potential for the closing of the Aoyuan contract,
expected within the next two weeks.
A link to the on-demand Webcast titled 'China Crescent Corporate Update
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.
Contact Information: Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3060