China Crescent Enterprises, Inc. Anticipates 4th Quarter Sales to Be Best Quarterly Sales in 2009 After Reporting Record Net Inc
08 Dicembre 2009 - 5:20PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced the
Company anticipates sales in the 4th quarter of 2009 to exceed
sales in each of the previous three quarters of 2009. China
Crescent reported $30 million in revenue through the first nine
months of the year ending September 30, 2009, with record net
income of $1.8 million. The Company's sales are historically
seasonal with its largest sales and profits usually occurring in
the 4th quarter. Management indicates that 4th quarter sales are
anticipated to get an extra boost this year from two previously
announced potential transactions expected to close this month.
Year-End Sales Boost Potential
China Crescent has previously announced a letter of intent to
acquire a China Radio Technology Ltd subsidiary located in
Shenzhen. China Radio Technology Ltd, a Hong Kong-registered
company, is a mobile communication hardware and software company
that develops and manufactures products for sale in China. In
addition to potentially boosting December sales for China Crescent,
the China Radio subsidiary is anticipated to produce $20 million in
annual revenue in 2010. Shenzhen is located north of Hong Kong in
the Guangdong province and is considered one of the fastest growing
cities in the world.
China Crescent has also recently announced a pending service
contract with Aoyuan Electronic Co. Ltd in Dalian, China, for $36
million over three years, with potentially as much as $10 million
in revenue that may be recognized in 2010. The pending contract
would be the second major outsourcing contract signed by China
Crescent this year. In addition to potentially substantially
increasing the Company's revenue in 2010, the pending contract is
anticipated to further boost December sales in 2009.
Friday Webcast
China Crescent Enterprises, Inc. has scheduled an exclusive
Webcast for Friday, December 11, 2009, to review the pending
acquisition of a China Radio Technology Ltd subsidiary located in
Shenzhen, China. A link to the Webcast is scheduled to be posted to
the corporate website upon release.
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About China Crescent Enterprises, Inc.
(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.
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Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com
214-722-3060
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