China Crescent (CCTR) to Review Analyst Report Highlighting 100% Revenue Growth in Q1, Acquisitions and 'Speculative Buy' Rating
30 Giugno 2010 - 3:00PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) has scheduled a
Webcast presentation for tomorrow, July 1 to discuss the
independent analyst research update issued from Prime Equity
Research (PER). PER's update reiterates its 'Speculative Buy'
rating with a new price target of $0.0516 per share for China
Crescent.
The independent analyst initiated coverage on the Company in
March of this year. Since that time, China Crescent has filed its
2009 annual results and first quarter 2010 report. China Crescent
is a systems integration service provider of brand name
technologies and reported $45 million in profitable annual revenue
in 2009. China Crescent recently reported a more than 100% increase
in first quarter revenue to nearly $15 million compared to the same
period in 2009. Notably, net income increased more than 480% to
approximately $657,000 versus the same period in 2009. The
Company's recent expansion into additional lines of business in
China, including outsourcing services and original design
manufacturing (ODM), has contributed to the growth. The research
update provides a review of Company progress since PER initiated
research coverage on the Company, to include review of acquisitions
and geographic expansion plans.
The independent analyst with Prime Equity Research is a CFA®
(Chartered Financial Analyst®) charterholder. The analyst has
previously conducted research for a number of Western European and
North American financial institutions, including Janney Montgomery
Scott. China Crescent engaged the analyst and paid for the services
prior to any recommendation rating or price target to ensure
objective research.
A link to the Webcast will be posted to the corporate website
www.chinacrescent.com upon release. To review a copy of the initial
report or the update, please visit the China Crescent corporate
website Investor Relations section at www.chinacrescent.com or the
Prime Equity Research website at www.primeequityresearch.com.
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About China Crescent Enterprises, Inc.
(www.chinacrescent.com) China Crescent is a systems integration service
provider that markets technology outsourcing services in China
including the sale and service of brand name technologies such as
Microsoft, Oracle, Cisco, IBM, HP and Dell. Following a strategic
acquisition last year, the Company expanded its business line to
include original design manufacturing (ODM). China Crescent
reported $45 million in profitable revenue in 2009 after reporting
over $40 million in revenue for both 2007 and 2008 and has set a
goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen,
Dalian and Beijing, China Crescent bridges the gap between global
business cultures to assist clients worldwide realize the
advantages of the high quality, low cost technology products and
services available from China. China Crescent also assists 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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