DALLAS, TX--(Marketwire - August 17, 2010) - China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that the Company has scheduled a Webcast presentation for release next Tuesday, August 24th, to review its second quarter 2010 financial results. The Company reported nearly $15 million in revenue for the first quarter of 2010 realizing more than a 100% growth compared to the same period the year prior. Management indicates the China Crescent's sales growth has continued to meet or surpass expectations in conjunction with the Company's objective of realizing a total of $100 million in annual revenue for 2010.
China Crescent is a systems integration service provider of brand name technologies operating primarily in China that reported $45 million in profitable annual revenue in 2009. In addition to China Crescent's strong first quarter revenue results for 2010, 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.
A link to the second quarter review Webcast will be published to the corporate website www.chinacrescent.com upon release.
Milestone Outlook Update and GPS Tracking Device Webcast
Separately, China Crescent recently released an on-demand Webcast presentation to its corporate Website discussing a recently announced proprietary GPS tracking solution contract, potential milestone developments, counter considerations and the Company's $100 million 2010 forecast. In July, China Crescent announced a contract to provide proprietary GPS tracking devices in East Africa (news: http://tinyurl.com/23ysrg5). China Crescent has been working to expand its Chinese operations by offering high quality, affordable technology products and services into the growing economies of East Africa.
A link to the Webcast titled 'China Crescent Milestone Outlook Update & GPS Tracking Device Webcast (July 30, 2010)' is available at www.chinacrescent.com under Recent Webcasts or directly here: http://www.chinacrescent.com/wcm_20100730.htm.
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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.
Contact Information:
Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3060