Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Announces Upcoming Financial Report Preview Highlighting Strong 4th Quarter Sales and Greenfield Partnership Program Contribution
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - March 22, 2010) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
is scheduled to be featured in a Greenfield Partnership Program Webcast
this Thursday, March 25th. China Crescent has participated in the
Greenfield program over the past year, and the Webcast is expected to
provide an update on program milestones and a preview of partners' upcoming
financial reports for fiscal year 2009. China Crescent has announced the
Company anticipates reporting positive financial results for 2009 in its
upcoming annual financial filing. For the first three quarters of 2009,
China Crescent reported $30 million in revenue and $1.8 million in net
income. Last year, China Crescent launched two new lines of business to
enhance its revenue potential, namely outsourcing services and original
design manufacturing (ODM). Within the scope of these new business lines,
the Company announced $66 million in new domestic outsourcing sales
contracts for three-year periods, and the ODM business line has already
added $160 million commitment, agreed to in a letter of intent, bolstered
by an initial $1.6 million purchase order for a near shore client.
The Webcast, which will be made available for on-demand viewing, is being
hosted by NewMarket Technology, Inc. (PINKSHEETS : NWMT ), the company that
founded the Greenfield program in 2009 to accelerate and support the
introduction of new and emerging technology innovations into global growing
economic markets. A link to the on-demand Webcast will be posted to the
NewMarket corporate website (www.newmarkettechnology.com) upon
release Thursday.
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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, Oracle, Cisco, IBM, HP and Dell.
Following a recent strategic acquisition, the Company has expanded its
business line to include original design manufacturing (ODM). China
Crescent reported over $40 million in profitable revenue in 2008. The
Company has reported record profits through the first 9 months of 2009 and
anticipates reporting record profit in the 2009 annual report. Management
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.