Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Senior Management Outsourcing Summit Scheduled October 12th in Shanghai to Accelerate 2nd Major Contract Following Recent $30 Million Engagement
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - September 17, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced a senior management outsourcing summit scheduled October
12th in Shanghai intended primarily to focus on the contract contemplated
in the recent signing of a letter of intent (LOI) for a second large
outsourcing opportunity in China. Earlier this year, China Crescent
announced a $30 million contract signed with Beijing Chuangzhitongda
Technology Development. China Crescent has been marketing the new
outsourcing service since the beginning of this year to increase the
Company's percentage of sales from recurring revenue and improve the gross
margins.
China Crescent reported over $40 million in annual revenue for 2008. The
Company reported $17 million in revenue and an over 200% net income
increase to $1.1 million for the first six months of 2009. The Company's
sales are historically seasonal with its largest sales and profits usually
occurring in the 4th quarter. The Company has forecasted $50 million in
profitable revenue for 2009.
Strategic Corporate Update Webcast
Last week, China Crescent released a strategic corporate Webcast on the
Company's website www.chinacrescent.com titled 'China Crescent Post Labor
Day Update Webcast.'
The Webcast provides an update of the Company's $0.30 suggested fair value
target price per share and includes a review of the $50 million revenue
goal based on a sales driven revenue and profit growth strategy that has
resulted in a record profit year-to-date.
Corporate E-mail Updates
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Company, please visit www.chinacrescent.com.
About China Crescent Enterprises, Inc. (http://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.