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China Crescent Enterprises, Inc. to Present Potential Expansion to $60 Million in Total Outsourcing Contracts Anticipated by Year End
DALLAS, TX, Oct 12, 2009 (MARKETWIRE via COMTEX) -- China Crescent Enterprises, Inc. (OTCBB: CCTR) has scheduled an on-demand Webcast for release this Thursday, October 15th. The Webcast will report on China Crescent's senior management outsourcing summit in Shanghai that is currently underway. China Crescent has been marketing a new outsourcing service since the beginning of this year to increase the Company's percentage of sales from recurring revenue and improve the gross margins.
Earlier this year, China Crescent signed an outsourcing sales contract worth $30 million 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. Today, the Company announced that based on positive client review, the $30 million outsourcing contract may be expanded to as high as $50 million over the three-year span of the contract.
The Webcast, scheduled for Thursday, is anticipated to include a review of outsourcing contract opportunities that may bring the Company's outsourcing sales to as high as $60 million for 2009 and to review the Company's previously announced $0.30 suggested fair value target price per share.
The Webcast is scheduled to be available on the Company's website www.chinacrescent.com upon release.
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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.
Posts: 47 | From: PA | Registered: Nov 2007
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Anyone out there know anything about this company? Heard a rumor the CEO is not exactly trust worthy, etc,keeps diluting shares. Has great news out, volume building..
China Crescent Enterprises, Inc. Achieves $66 Million Milestone in New Outsourcing Business for 2009 With Substantial PPS Increase Potential to $0.30 Suggested Fair Value Target Friday 10/16/2009 9:10 AM ET - Market Wire
Related Companies Symbol Last %Chg CCTR 0.0525 0.57%
As of 11:21 AM ET 10/16/09 October 16, 2009 - China Crescent Enterprises, Inc. (OTCBB: CCTR) announced yesterday that the Company has signed a letter of intent to provide outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China, for $36 million over three years. The Company has been marketing a new outsourcing service since the beginning of this year and has already announced an outsourcing contract earlier this year worth $30 million with Beijing Chuangzhitongda Technology Development. The two agreements together, equaling potentially $66 million in new sales contracts for 2009, are a milestone achievement for China Crescent and support the previously announced $0.30 suggested fair value target price per share.
Additionally, this week, the Company announced that it reviewed the $30 million outsourcing agreement during the outsourcing management summit meetings in China and 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 is a systems integration service provider in China that provides technology outsourcing services and sells and services brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell in addition to selling and servicing innovative new technologies. The Company reported over $40 million in revenue in both 2007 and 2008 and has forecasted reporting $50 million in profitable revenue in 2009.
Outsourcing Summit Webcast Available On-Line
China Crescent has been conducting a series of meetings across four cities in China this week in conjunction with the Company's scheduled outsourcing management summit, primarily aimed at reviewing and developing the Company's growing technology outsourcing business. Yesterday, China Crescent announced the close of the summit and posted a Webcast to review the week's highlights. A link to the Webcast titled 'China Crescent Outsourcing Summit Review Webcast' is available at www.chinacrescent.com under Recent Webcasts.
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This one may run, tanked...but finacial news good,may be a great bounce play
China Crescent Enterprises, Inc. Reports Record $1.8 Million in Net Income on $30 Million in Revenue for the Nine Months Ending September 30, 2009 Friday 11/20/2009 9:35 AM ET - Market Wire
Related Companies Symbol Last %Chg CCTR 0.033 -13.16%
As of 11:52 AM ET 11/20/09 China Crescent Enterprises, Inc. (OTCBB: CCTR) has filed its third quarter 2009 financial results on SEC Form 10-Q.
The Company reported $30 million in revenue through the nine months ending September 30, 2009 and a record net income of $1.8 million compared to $517k in net income for the same period in 2008. The Company has forecasted profitable revenue growth in 2009 compared to 2008. The Company reported over $40 million in profitable revenue in 2008
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