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China Crescent Enterprises,[link widoczny dla zalogowanych], Inc. Senior Management Outsourcing Summit Scheduled October 12th in Shan
China Crescent Enterprises,[link widoczny dla zalogowanych], Inc. (OTCBB: CCTR) today announced a senior management outsourcing summit scheduled October 12th in Shanghai intended primarily to focus on the contract contemplated in the recent signing of a letter of intent (LOI) for a second large outsourcing opportunity in China. Earlier this year,[link widoczny dla zalogowanych], China Crescent announced a $30 million contract signed with Beijing Chuangzhitongda Technology Development. China Crescent has been marketing the 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.
China Crescent reported over $40 million in annual revenue for 2008. The Company reported $17 million in revenue and an over 200% net income increase to $1.1 million for the first six months of 2009. The Company's sales are historically seasonal with its largest sales and profits usually occurring in the 4th quarter. The Company has forecasted $50 million in profitable revenue for 2009.
Strategic Corporate Update Webcast
Last week,[link widoczny dla zalogowanych], China Crescent released a strategic corporate Webcast on the Company's website [link widoczny dla zalogowanych] titled 'China Crescent Post Labor Day Update Webcast.'
The Webcast provides an update of the Company's $0.30 suggested fair value target price per share and includes a review of the $50 million revenue goal based on a sales driven revenue and profit growth strategy that has resulted in a record profit year-to-date.