Contact Information: Contact: China Crescent Enterprises, Inc. Investor Relations 214-722-3065 ir@chinacrescent.com www.chinacrescent.com
China Crescent Enterprises, Inc. Schedules CEO Webcast to Report YTD Progress on Track to Meet $50 Million Revenue Forecast and Announce Target Fair Value Share Price
Micros Report Analyst Report Update With New Target Fair Value Share Price Recommendation Scheduled to Be Released Friday Following CEO Webcast
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 16, 2008) - China Crescent Enterprises, Inc. (OTCBB : CCSE )
CEO Paul K. Danner will conduct a Webcast Friday, September 19 at 12:30 pm
EDT. During the Webcast, Mr. Danner will discuss the Company's
year-to-date progress to meet or exceed its profitable $50 million revenue
forecast.
$19.2 Million In Revenue in First Six Months of 2007 with Seasonal Increase
Expected in Last Six Months
The Company reported $19.2 million in revenue for the first six months of
2008, reflecting an 11% increase in revenue over the first six months of
2007. Net income for the first six months of 2008 was $321 thousand
compared to a loss of $22 thousand for the same period last year. The
Company has reported four continuous quarters of profitability with
continued revenue growth. The Company anticipates seasonally higher sales
in the 3rd and 4th quarters compared to the 1st and 2nd quarters.
Micros Report Analyst Report Update and New Target Fair Value Share Price
Micros Report is expected to release a research report update from Michael
Willingham, Director of Research, on Friday following the CEO webcast.
Micros Report initiated research coverage and published his first report on
China Crescent in December 2007.
A link to the Webcast will be available on the Company's corporate Website
at www.chinacrescent.com titled "China Crescent Year-to-Date Corporate
Update."
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.