Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Reports Record Financial Results and Anticipated Price per Share Increase Supported by Potential Short Squeeze
Webcast Posted to Review $17 M in Revenue and 200% Net Income Increase to $1.1 M With Discussion on Near Term Potential PPS Increase of 50% on Way to $0.30 Target
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - August 21, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today released an on-demand Webcast reviewing the Company's second quarter
2009 financial results recently filed on SEC Form 10-Q.
The Company reported $17 million in revenue and an over 200% net income
increase to $1.1 million through the first six months of 2009. The Company
has forecasted profitable revenue growth in 2009 compared to 2008. The
first six months results beat management expectations. The Company's
financial performance is ahead of the pace anticipated by management as
necessary to meet year end revenue and net income growth objectives. The
Company reported over $40 million in profitable revenue in 2008.
Webcast to Review Q2'09 Results, 2009 Outlook and $0.30 PPS Target PPS
Today's Webcast reviews the Company's second quarter 2009 financial
performance and includes an update on Management's optimistic outlook on
the Company's 2009 forecasted revenue and net income growth in light of the
Q2 results and the recently announced sales contracts. The Webcast also
includes a review of the $0.30 fair value target pps and the ongoing
potential short squeeze.
A link to today's Webcast titled 'China Crescent 2nd Quarter Review
Webcast' is now available on the Company's corporate website under Recent
Webcasts at www.chinacrescent.com.
Corporate E-mail Updates
To sign up to receive company updates or to obtain more information on the
Company, please visit www.chinacrescent.com.
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.