(CCTR) China Crescent Looks to NYSE Euronext for 2011 and Plans Spinoff Distribution
14 Dicembre 2010 - 3:20PM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced an
on-demand Webcast scheduled for January 6, 2011 to present the
Company's plans for the upcoming fiscal year.
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 has 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.
After a year of substantial growth and expansion in 2010,
management plans to pursue a listing on a NYSE Euronext platform in
2011 as part of a broader overall NewMarket Technology, Inc.
(PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Partner national
exchange listing strategy. Additionally, China Crescent plans to
spin off one of its subsidiary operations in China through a
transaction that would include distribution of stock in the
subsidiary operation to China Crescent shareholders. China Crescent
management is planning for another year of aggressive revenue and
net income growth. More details on the Company's plans for 2011
will be presented in the Webcast scheduled for release on January
6th.
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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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