China Crescent Enterprises, Inc. Expects New Business Lines to Boost 4th Quarter Sales Higher Than Three Previous Quarters in 20
17 Dicembre 2009 - 3:06PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) has announced the
Company anticipates sales in the 4th quarter of 2009 to exceed
sales in each of the previous three quarters of 2009. Last week,
China Crescent announced the acquisition of a subsidiary of China
Radio Technology Ltd. The transaction is designed to enable China
Crescent to introduce a new mobile communication hardware and
software line of business. Earlier this year, China Crescent also
introduced a new outsourcing services line of business. Both new
business lines are anticipated to contribute to fourth quarter 2009
sales. 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. In addition to the contributions
anticipated from the new lines of revenue, the Company's sales are
historically seasonal with its largest sales and profits usually
occurring in the 4th quarter. 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.
Recent Acquisition and Outsourcing Services with Potential to
Add $30 Million to 2010 Revenue
Earlier this year, China Crescent began offering a new
outsourcing service 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.
China Crescent has scheduled a Webcast for release tomorrow,
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, China Crescent's milestone acquisition of a China
Radio Technology Ltd. subsidiary located in Shenzhen 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.
China Crescent 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 Virtual Town Hall January 22, 2010
China Crescent plans to release a 2009 Virtual Town Hall January
22, 2010 and the agenda includes a review of the Company's
outsourcing service offering and a recent acquisition. The Virtual
Town Hall agenda also 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 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.
Sign Up to Receive Regular China Crescent Investor Updates
China Crescent sends regular email updates to its opt-in,
permission-based email database. Interested investors can easily,
safely and quickly register to receive these communications
directly on the corporate website homepage (www.chinacrescent.com).
Recipients can manage their own email contact profile and safely
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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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