CCTR - China play, .055 ask:
press release
Jul 8, 2009, 10:34 a.m. EST
China Crescent Enterprises, Inc. Updates Suggested Fair Value Target Price per Share of $0.30 vs. Current $0.02 Following High Trading Volume
Majority Shareholder Anticipates Increased Price per Share With Continued Increases in Earnings per Share
DALLAS, TX, Jul 08, 2009 (MARKETWIRE via COMTEX) -- China Crescent Enterprises, Inc. /quotes/comstock/11k!cctr (CCTR 0.04, +0.02, +85.71%) today announced that management anticipates an increased price per share in conjunction with the Company's continued expectations of increased earnings per share. The Company expects to double net income in 2009 compared to 2008 and that the increase in net income could be more than double. The Company will review an expected doubling of net income in 2009 compared to 2008 in an on-demand Webcast scheduled for Thursday, July 9, 2009. The Webcast will include a review of Company's increased year-to-date sales compared to last year's sales that resulted in over $40 million in profitable annual revenue. The presentation will include a preview of the anticipated positive 2nd quarter results and an update of the suggested fair value target price per share of $0.30 originally presented in a Webcast on May 13th (the original Webcast is available on the Company's website at newmarkettechnology.com.
"Trading volume has been high relative to the Company's issued and outstanding stock since the recapitalization completed in May," said Philip Verges, founder and board member and managing board member of the Company's majority shareholder. "Yesterday's trading volume was higher than the average daily trading volume. The current share price since the recapitalization remains low compared to similar publicly traded companies. I remain optimistic that the price per share will increase to align with market comparables. I consider the recent price per share and trading volume volatility a transitional phase and believe the upcoming 2nd quarter report can be a milestone event leading to a price per share increase in the range of the suggested fair value target of $0.30. I would encourage anyone reading this press release and interested in purchasing China Crescent stock to review the Company's recent news releases and public filings to fully understand the potential value in purchasing shares at what I consider highly discounted prices, as well as the various risks associated with investing in early stage companies quoted on an over the counter market."
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (http://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.
Contact:
China Crescent Enterprises, Inc.
Investor Relations
ir@chinacrescent.com
214-722-3065 |
