China Crescent Enterprises, Inc. Files Form 8-K on $30 Million Outsourcing Services Agreement
08 Giugno 2009 - 10:00PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced the
Company has filed a Form 8-K regarding the recent $30 million
outsourcing services agreement with Shanghai-based Beijing
Chuangzhitongda Technology Development. The $30 million in contract
revenue is expected to be earned over the three year contract
period. Because of the size of the agreement in relation to the
Company's over $40 million in 2008 revenue, the Company has filed a
Form 8-K on the material agreement.
The new outsourcing service offering is part of the Company's
overall strategy to increase margins and the percentage of its
overall revenue generated from recurring contracts. Beijing
Chuangzhitongda Technology Development is China Crescent's first
outsourcing customer. China Crescent anticipates engaging
additional outsourcing customers over the course of the year.
Company Anticipates Reporting Increased Earnings per Share in Q2
'09
Last week, the Company released a letter to shareholders from
CFO Philip J. Rauch. In the letter Mr. Rauch addresses the
Company's improving operational maturity, recent recapitalization
and anticipated earnings per share increase in the second quarter
of fiscal year 2009. In 2008, the Company reported over $40 million
in revenue with more than $600,000 in net income.
The letter is available in its entirety at:
http://finance.yahoo.com/news/China-Crescent-Enterprises-iw-15430380.html.
Outsourcing Strategy Webcast
China Crescent recently released an on-demand Webcast to present
the Company's new outsourcing services strategy and the new
services' benefits to customers, the Company and shareholders.
A link to the Webcast titled 'China Crescent Outsourcing
Services Strategy Webcast (June 2, 2009)' is available on the
Company's website under Webcasts at:
http://www.newmarkettechnology.com/about-newmarket-china.htm.
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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