CCTR bid building here @ .03. 200 MA is @ .033. Golden cross could happen today! Very nice looking chart + news.
China Crescent (CCTR) Optimism for 2010 High Growth Boosted by China's Reported 11.9 Percent Economic Surge in 1st Quarter 2010
DALLAS, TX, Apr 15, 2010 (MARKETWIRE via COMTEX) -- China Crescent Enterprises, Inc. (CCTR 0.02, +0.00, +6.73%) today announced increased optimism for achieving high growth performance in 2010 based on China's reported 11.9 percent economic surge in the first quarter of 2010. China Crescent last year introduced an outsourcing sales service to organically increase the Company's revenue growth rate and improve the Company's profitability. The Company also began to diversify into providing new lines of technology products and services to further increase the revenue growth rate and improve the Company's profitability. In conjunction with China Crescent's outsourcing services and business line diversification, the Company reported record net income results through the first three quarters of 2009. The recent news on China's first quarter economic growth shed's further optimism on China Crescent's prospects for achieving high growth in 2010.
CFO Webcast Presentation Scheduled Tomorrow
China Crescent plans to release an on-demand Webcast tomorrow, April 16th, conducted by Chief Financial Officer Philip J. Rauch. The Webcast is expected to provide a review of year-to-year financial performance. China Crescent reported over $40 million in profitable revenue in both 2007 and 2008. The Company has reported record profits through the first 9 months of 2009 and anticipates reporting record profit and continued revenue growth in the 2009 annual report.
A link to the Webcast will be published upon release and emailed to the China Crescent corporate email database.
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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, Oracle, Cisco, IBM, HP and Dell. Following a recent strategic acquisition, the Company has expanded its business line to include original design manufacturing (ODM). China Crescent reported over $40 million in profitable revenue in 2008. The Company has reported record profits through the first 9 months of 2009 and anticipates reporting record profit in the 2009 annual report. Management 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.