China Crescent Enterprises, Inc. Expects to Double Net Income in 2009 With More Than $40 Million in Revenue
Greater Increases in Net Income Possible
DALLAS, TX -- (Marketwire) -- 07/07/09 -- China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that 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 the net income expectations 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 and a preview of the anticipated positive 2nd quarter results.
Company Expects to Top 2008 $40 Million in Profitable Revenue
Last week, the Company announced increasing its previous expectations for profitable revenue growth in 2009. The Company reported over $40 million in profitable revenue in 2008 as a reseller and integrator in China for Hewlett-Packard (HP), Sony, Lenovo and other brand name technology companies.
HP's market share in China increased to 13.7 percent in the first quarter of 2009 from 10.9 percent in the last quarter of 2008, according to IDC. In April, HP introduced a new line of thin client computers aimed at low cost desktop replacements for business users. Philip Verges, China Crescent founder and board member, was in Chongqing for the launch. In October of last year, HP launched a new manufacturing plant in Chongqing.
The World Bank raised its 2009 economic growth forecast for China from 6.5 percent to 7.2 percent due to its stimulus-driven investment boom. Ardo Hansson, the World Bank's lead China economist, indicated that the government stimulus impact is bigger than expected.
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.
Contact:
China Crescent Enterprises, Inc.
Investor Relations
ir@chinacrescent.com
214-722-3065
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