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China Crescent Enterprises, Inc.: China Crescent Enterprises, Inc. Expects Record 4th Quarter Operational Income to Boost Compr

^{Published on 2009-10-05 06:17:14 - Market Wire}
 

DALLAS, TX--(Marketwire - October 5, 2009) - China Crescent Enterprises, Inc. (OTCBB: [ CCTR ]) today announced the Company expects to report record 4th quarter operational income that may boost comprehensive net income for 2009. The Company reported $17 million in revenue and an over 200% net income increase to $1.1 million through the first six months of 2009. In an effort to improve gross margins, the Company has been marketing a new outsourcing service since the beginning of this year to increase the Company's percentage of sales from recurring revenue. To that end, the Company signed its first major outsourcing contract worth $30 million earlier this year and has recently announced signing a letter of intent agreement for an anticipated $15 million outsourcing contract expected to be closed in the fourth quarter. The Company has scheduled a senior management outsourcing summit October 12th in Shanghai intended to focus on larger, long-term outsourcing contracts.

Webcast Hosted by CEO Paul Danner

Last week, China Crescent released an on-demand Webcast hosted by CEO Paul Danner on Company progress year-to-date and further details on the approximate $45 million in recently announced outsourcing contracts or pending contracts. The Webcast also frames the Company's technology services in the Chinese market within growth opportunities in the technology business environment in China, per recent reports by Business Monitor International and the Wall Street Journal.

China Crescent is a technology systems integrator and value added reseller of major global hardware brands, such as Lenovo, Dell and HP, in the Chinese domestic market. The Company reported over $40 million in revenue in 2008 and has forecasted $50 million in profitable revenue for 2009, with plans to possibly increase the forecast following the completion of its upcoming 3rd quarter financial report.

A link to the Webcast, titled 'China Crescent 3rd Quarter Update with CEO Paul Danner Webcast,' is available on the Company's corporate website under Recent Webcasts at [ www.chinacrescent.com ].

Corporate E-mail Updates

To sign up to receive company updates or to obtain more information on the Company, please visit [ www.chinacrescent.com ].

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.