China Crescent Enterprises, Inc. Anticipates Reporting Increased Earnings per Share in Q2 '09
03 Giugno 2009 - 10:31PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today released a
letter to shareholders from the Company CFO, Philip J. Rauch.
Following the Company's recent recapitalization and first quarter
financial report, Mr. Rauch has provided a summary explanation of
the Company's ongoing efforts to mature and standardize the
operations listed publicly only two years earlier. The letter is
included in its entirety below.
Dear Fellow Shareholders -
China Crescent Enterprises continues to improve its overall
operating margins. Notably, while first quarter revenue was down
compared to the same period last year, net income was up. This is a
healthy trend and not an accidental one. Management continues to
work to improve the Company's standard operating procedures with
the objective of improving operating margins. As margins improve,
the Company improves its earnings per share potential.
Earlier this year, China Crescent's wholly owned subsidiary in
China, Clipper Technology, increased its ownership in the majority
owned Chinese operation, Clipper Huali, by twenty five percent.
This increase in ownership will increase the percentage of net
income from Clipper Huali operations included in the China Crescent
consolidated financial statement by fifty percent. This increase in
net income included in the China Crescent consolidated financial
statement can further improve the Company's earnings per share
potential.
Recently, the Company launched its outsourcing services business
line and subsequently signed its first outsourcing contract. The
improved earnings potential of the outsourcing services business
line is yet another factor that can improve the Company's earnings
per share potential.
Approximately two weeks ago, the Company completed a
recapitalization of its common stock reducing the number of issued
and outstanding shares on a rate of 25 to 1. The reduction in
issued and outstanding shares correspondingly further increases the
earnings per share. Even before the recent measures mentioned above
to improve operational performance, China Crescent was already
producing a small profit. Besides the measures mentioned herein to
improve profits, any profit will now be measured against a reduced
number of shares, thus increasing the earnings per share.
China Crescent has established substantial revenue and has the
potential through organic sales and acquisitions to further
increase upon its revenue base. Management plans to aggressively
pursue revenue growth, but the priority will remain to continually
improve operational maturity and in turn, earnings per share. The
reduced issued and outstanding will better reflect the Company's
earnings on a per share basis and should in turn enhance the
potential PPS.
Best Regards,
Philip J. Rauch
CFO
China Crescent Enterprises
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.
(http://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.
Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3065
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