Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Announces $15 Million Outsourcing Agreement
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 22, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has announced signing a letter of intent (LOI) agreement for an anticipated
$15 million outsourcing contract. The contract is scheduled to be finalized
within the 4th quarter of 2009. This would be the Company's second large
outsourcing contract in China this year. China Crescent recently announced
a $30 million contract signed with Beijing Chuangzhitongda Technology
Development. China Crescent has been marketing a new outsourcing service
since the beginning of this year to increase the Company's percentage of
sales from recurring revenue and improve the gross margins
The Company has scheduled a senior management outsourcing summit October
12th in Shanghai intended primarily to focus on finalizing the anticipated
$15 million contract. The non-binding letter of intent was previously
announced last week. Today the Company has announced the anticipated
three-year contract would generate approximately $15 million in revenue for
China Crescent.
China Crescent reported over $40 million in annual revenue for 2008. The
Company reported $17 million in revenue and an over 200% net income
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.
Lunch Presentation in Dallas This Thursday at 12 pm CDT
China Crescent is scheduled to conduct a complimentary lunchtime
presentation on its business and corporate growth strategies in Dallas,
Texas this Thursday, September 24th. The main purpose of the presentation
will be to detail China Crescent's plans for East Africa and the Company's
recently announced upcoming Trade Mission to Kenya. However, the
presentation will also include a general overview of China Crescent, with a
preview of the anticipated record 3rd quarter financial results and
discussion of a potential increase to the 2009 forecast.
The presentation is scheduled for 12 pm CDT in North Dallas and lunch will
be served. Any interested clients, vendors, or shareholders are invited to
attend. A reservation is required to attend the presentation and those
interested in attending the presentation should call 214-722-3060 or email
info@chinacrescent.com with name and contact information to reserve a space
by Wednesday 5pm CDT.
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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.