China Crescent Enterprises, Inc. Plans to Reach for $100 Million in Revenue in 2010
16 Dicembre 2009 - 4:35PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) plans to release a
2009 Virtual Town Hall January 22, 2010. The Virtual Town Hall
agenda includes a review of 2009, a preview of the Company's plans
for the year ahead and an outline of plans to evolve the Company's
growth strategy while adopting lessons learned. The Town Hall
agenda will include a presentation on management's plan to reach
for $100 million in revenue in 2010.
"Reaching $100 million in revenue in 2010 will not be easy for
China Crescent," said CEO Paul Danner. "However, the recent and
pending end-of-year transactions are enabling us to consider the
possibility and, with some hard work and determination, $100
million is not out of the question."
The Virtual Town Hall is scheduled to be made available online
to interested viewers on their own schedule and from their own
location. Shareholders and interested investors are asked to submit
suggested topics for discussion and questions by 5 pm CST December
28, 2009 to townhall@chinacrescent.com.
Recent Acquisition and Outsourcing Services with Potential to
Add $30 Million to 2010 Revenue
The China Crescent Virtual Town Hall agenda includes a review of
the Company's outsourcing service offering and a recent
acquisition.
In 2009, China Crescent began offering a new outsourcing service
in order to increase the percentage of revenue from recurring
contracts and 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. The Company 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.
Additionally, the Company recently announced a 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
Company released an exclusive Webcast reviewing the milestone
acquisition and 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.'
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.
The Company reported over $40 million in annual revenue in both
2007 and 2008, and recently 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 compared to $517k in net income
for the same period in 2008.
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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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