SOURCE: China Crescent Enterprises, Inc.

China Crescent Enterprises, Inc.

November 30, 2010 09:20 ET

(CCTR) China Crescent Record $51 Million Revenue Through 3rd Qtr. and YTD Update Webcast Featuring Projects With (NVAE) Savanna and (NUBL) NuMobile Available on Website

DALLAS, TX--(Marketwire - November 30, 2010) - China Crescent Enterprises, Inc. (OTCBB: CCTR) has released a Third Quarter Review Webcast highlighting the Company's third quarter and YTD results. China Crescent reported $50.9 million in revenue through the first 9 months of the year, compared to $30.3 million for the same period in 2009, a 67% increase. Additionally, the Company's net income for the first 9 months of 2010 was $3.3 million, up from $1.9 million for the same period last year. The Webcast also provides an update on projects the Company is currently engaged in with NuMobile, Inc. (OTCBB: NUBL) and Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE). NuMobile and China Crescent are working on a special purpose Wi-Fi communication device pilot, while Savanna and China Crescent have partnered on the recent sale of GPS enabled radios in Nairobi.

China Crescent, along with NuMobile and Savanna East Africa, is part of the NewMarket Technology, Inc. Greenfield Partnership Program. The Greenfield program was launched in 2009 to accelerate the introduction of new technologies into emerging markets around the world where technology buying is on the rise, while improving return on investment (ROI) potential. The Greenfield program assists in providing startup and development stage partner companies the collaboration opportunities and support necessary to win key contracts and grow their businesses. Companies are chosen to participate in the partnership program based on their technology and service offerings in conjunction with the emerging geographic markets in which they currently participate, such as China, Latin America and East Africa.

The Webcast titled "China Crescent Third Quarter Review & YTD Webcast" is available for on demand viewing on the Company's corporate website, www.chinacrescent.com or directly at http://tinyurl.com/CCTRQ3Webcast.

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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets technology outsourcing services in China including the sale and service of brand name technologies such as Microsoft, Cisco, IBM, HP and Dell. Following a strategic acquisition last year, the Company expanded its business line to include original design manufacturing (ODM). China Crescent reported $45 million in profitable revenue in 2009 after reporting over $40 million in revenue for both 2007 and 2008 and has set a goal of reaching $100 million in revenue in 2010. Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and Beijing, China Crescent bridges the gap between global business cultures to assist clients worldwide realize the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists 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.
    Email Contact
    214-722-3060