Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Expects New Business Lines to Boost 4th Quarter Sales Higher Than Three Previous Quarters in 2009 After $30 Million Reported Through September 30, 2009
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - December 17, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has announced the Company anticipates sales in the 4th quarter of 2009 to
exceed sales in each of the previous three quarters of 2009. Last week,
China Crescent announced the acquisition of a subsidiary of China Radio
Technology Ltd. The transaction is designed to enable China Crescent to
introduce a new mobile communication hardware and software line of
business. Earlier this year, China Crescent also introduced a new
outsourcing services line of business. Both new business lines are
anticipated to contribute to fourth quarter 2009 sales. China Crescent
reported $30 million in revenue through the first nine months of the year
ending September 30, 2009, with record net income of $1.8 million. In
addition to the contributions anticipated from the new lines of revenue,
the Company's sales are historically seasonal with its largest sales and
profits usually occurring in the 4th quarter. 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.
Recent Acquisition and Outsourcing Services with Potential to Add $30
Million to 2010 Revenue
Earlier this year, China Crescent began offering a new outsourcing service
and anticipates finalizing a pending service contract by year-end with
Aoyuan Electronic Co. Ltd in Dalian, China, for $36 million over three
years, with the potential for as much as $10 million in revenue to be
recognized in 2010.
China Crescent has scheduled a Webcast for release tomorrow, December 18th
to provide an update on the pending service contract. A link to the Webcast
will be posted to the corporate website www.chinacrescent.com upon release.
Additionally, China Crescent's milestone acquisition of a China Radio
Technology Ltd. subsidiary located in Shenzhen is anticipated to produce
$20 million in annual revenue in 2010. China Radio Technology, a Hong
Kong-registered company, is a mobile communication hardware and software
company that develops and manufactures products for sale in China.
China Crescent released an exclusive Webcast reviewing the milestone
acquisition and a link to the Webcast is available on the corporate website
www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update -- CRT Acquisition Webcast.'
China Crescent Virtual Town Hall January 22, 2010
China Crescent plans to release a 2009 Virtual Town Hall January 22, 2010
and the agenda includes a review of the Company's outsourcing service
offering and a recent acquisition. The Virtual Town Hall agenda also
includes a review of 2009, a preview of the Company's plans for the year
ahead and an outline of plans to evolve the Company's growth strategy while
adopting lessons learned.
The Virtual Town Hall is scheduled to be made available online to
interested viewers on their own schedule and from their own location.
Shareholders and interested investors are asked to submit suggested topics
for discussion and questions by 5 pm CST December 28, 2009 to
townhall@chinacrescent.com.
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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.