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China Crescent Enterprises, Inc.: China Crescent Enterprises, Inc. Announces First Outsourcing Agreement May Exceed $30 Million

^{Published on 2009-10-12 06:08:58 - Market Wire}
 

DALLAS, TX--(Marketwire - October 12, 2009) - China Crescent Enterprises, Inc. (OTCBB: [ CCTR ]) opened its Shanghai management summit meeting this morning with a client update and review of China Crescent's performance to date on its first major outsourcing agreement. Earlier this year, the Company announced signing its first major outsourcing contract worth $30 million over three years. China Crescent has received high marks from the client and news that the total revenue value could exceed the originally anticipated $30 million. The client's business has been enhanced as a result of the project, and consequently, the services required from China Crescent could expand as early as next year. Initial estimates suggest the total contract value could increase to as high as $50 million over three years.

China Crescent has reported over $40 million in annual revenue the last two years. The Company has forecasted $50 million in profitable revenue for 2009. The Company reported record net income of $1.1 million through the first half of 2009 on $17 million in revenue and anticipates record operating income to continue throughout the year.

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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.