(CCTR) China Crescent Expansion Plan Into Projected $70 Billion Indian BPO Industry to Be Featured in Webcast Thursday
07 Dicembre 2010 - 3:15PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced a
review of the Indian Business Process Outsourcing (BPO) industry
will be included in a previously announced Webcast scheduled for
Thursday, December 9. China Crescent recently announced plans to
expand into the Indian BPO market to accelerate revenue growth and
increase profit margins. The Indian BPO industry has experienced
steady growth which is expected to top $70 billion in 2011. The
Webcast is also set to include a review of the Company's recently
filed third quarter report and update on ongoing independent
analyst coverage. The Webcast will be posted to the Company's
corporate website www.chinacrescent.com upon release.
China Crescent recently reported $50.9 million in revenue
through the first nine months of 2010, compared to $30.3 million
for the same period in 2009, a 67% increase. Additionally, the
Company's net income for the first nine months of 2010 was $3.3
million, up from $1.9 million for the same period last year. China
Crescent's revenue and net income through the first three quarters
of 2010 have exceeded the Company's 2009 annual revenue and net
income results. China Crescent achieved $45.6 million in 2009
annual revenue with $2.2 million in net income.
An analyst report was published on China Crescent on June 29,
2010 and is available on the Company's website
www.chinacrescent.com. The June 29th analyst report was produced in
conjunction with a year-long analyst coverage engagement after the
Company reported its first quarter results. With the filing of
China Crescent's third quarter results, the Company anticipates an
analyst update may be issued to report on the Company's progress
over the past few months. 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.
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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, 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. Email Contact
214-722-3060
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