China Crescent Enterprises, Inc. Expects to Double Net Income in 2009 With More Than $40 Million in Revenue
07 Luglio 2009 - 4:06PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that
the Company expects to double net income in 2009 compared to 2008
and that the increase in net income could be more than double. The
Company will review the net income expectations in an on-demand
Webcast scheduled for Thursday, July 9, 2009. The Webcast will
include a review of Company's increased year-to-date sales compared
to last year and a preview of the anticipated positive 2nd quarter
results.
Company Expects to Top 2008 $40 Million in Profitable
Revenue
Last week, the Company announced increasing its previous
expectations for profitable revenue growth in 2009. The Company
reported over $40 million in profitable revenue in 2008 as a
reseller and integrator in China for Hewlett-Packard (HP), Sony,
Lenovo and other brand name technology companies.
HP's market share in China increased to 13.7 percent in the
first quarter of 2009 from 10.9 percent in the last quarter of
2008, according to IDC. In April, HP introduced a new line of thin
client computers aimed at low cost desktop replacements for
business users. Philip Verges, China Crescent founder and board
member, was in Chongqing for the launch. In October of last year,
HP launched a new manufacturing plant in Chongqing.
The World Bank raised its 2009 economic growth forecast for
China from 6.5 percent to 7.2 percent due to its stimulus-driven
investment boom. Ardo Hansson, the World Bank's lead China
economist, indicated that the government stimulus impact is bigger
than expected.
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. 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.
Contact: China Crescent Enterprises, Inc. Investor Relations
ir@chinacrescent.com 214-722-3065
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