Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Gains Profitability Traction Reporting $516K in Net Income on $30 Million in Revenue Through 3rd Quarter 2008
Webcast Scheduled for 3:30 EST Wednesday, November 19, 2008 to Review YTD Performance and 2008 Outlook
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - November 17, 2008) - China Crescent Enterprises, Inc. (OTCBB : CCSE )
today announced that the Company has filed SEC Form 10-Q reporting the
Company's performance for the third quarter and first nine months of 2008.
China Crescent reported $30.3 million in revenue for the first nine months
of 2008 compared to $27.9 million in revenue for the same period last year.
Notably, net income increased over 1,300 percent to $516,999 for the first
nine months of 2008 compared to $36,010 for the same period last year.
Management points out that the Company is still an early stage operation
having only listed publicly through a reverse merger approximately two
years ago. The net income increase is a healthy indication of the
Company's improving maturity.
Management is confident that the Company is on track to realize its
forecasted $50 million 2008 revenue target. The Company historically
reports the majority of its revenue in the second half of the fiscal year.
Third Quarter Financial Webcast
China Crescent management will review YTD financials in a Webcast scheduled
for 3:30 pm EST on Wednesday, November 19, 2008. The Webcast link will be
available on the Company's corporate Website at www.chinacrescent.com.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. 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.