China Crescent Enterprises, Inc. Anticipates $36 Million Contract by Year-End With CEO Currently in China Dedicated to Finalizin
15 Dicembre 2009 - 7:55PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that
the Company anticipates finalizing a pending service contract by
year-end with Aoyuan Electronic Co. Ltd in Dalian, China, for $36
million over three years, with the potential for as much as $10
million in revenue to be recognized in 2010. China Crescent CEO
Paul Danner is currently in meetings in China focused on finalizing
the contract. China Crescent has scheduled a Webcast for Friday,
December 18th to provide an update on the pending service contract.
A link to the Webcast will be posted to the corporate website
www.chinacrescent.com upon release.
China Crescent is a systems integration service provider in
China that markets technology outsourcing services that include the
sale and service of brand name technologies such as Microsoft,
Oracle, Cisco, IBM, HP and Dell. China Crescent reported over $40
million in annual revenue in both 2007 and 2008. For the first nine
months of the year ending September 30, 2009, China Crescent
reported $30 million in revenue with record net income of $1.8
million compared to $517k in net income for the same period in
2008.
Webcast Update on Milestone Acquisition Anticipated to Add $20
Million in Annual Revenue in 2010 Available Now Online
Last week, China Crescent released an exclusive Webcast
reviewing the milestone acquisition of a China Radio Technology
Ltd. subsidiary located in Shenzhen that is anticipated to produce
$20 million in annual revenue in 2010. China Radio Technology, a
Hong Kong-registered company, is a mobile communication hardware
and software company that develops and manufactures products for
sale in China.
The Webcast further includes a review of anticipated 4th quarter
sales and the potential boost to 4th quarter sales the recent
acquisition may have. The Company anticipates sales in the 4th
quarter of 2009 to exceed sales in each of the previous three
quarters of 2009.
A link to the Webcast is available on the corporate website
www.chinacrescent.com under Recent Webcasts titled 'China Crescent
Shareholder Update - CRT Acquisition Webcast.'
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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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