China Crescent Enterprises, Inc. Signs LOI on Second Major Outsourcing Opportunity Following $30 Million Contract That Went Into
15 Settembre 2009 - 3:19PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced
signing 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 a 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
To sign up to receive company updates or to obtain more
information on the 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.
Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3065
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