China Crescent Enterprises (CCTR) research, news, and more from GeoInvesting

Company description

Tue, 21 Apr 2009 04:00:00 GMT

China Crescent Enterprises, Inc. 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.

Comments & Business Outlook

Mon, 18 Apr 2011 04:00:00 GMT

China Crescent Enterprises, Inc.
Consolidated Statement of Operations
Year ended December 31,

	2010			2009
REVENUE	$	78,187,546		$	45,628,397

COST OF SALES		71,635,967			41,578,424

Gross Margin		6,551,579			4,049,973

OPERATING EXPENSES
Selling, general and administrative expenses		2,019,376			1,138,739
Depreciation and amortization		33,649			21,448
Total expenses		2,053,025			1,160,187

Income from operations		4,498,554			2,889,786

OTHER INCOME (EXPENSE)
Gain on sale of fixed assets		-			-
Interest income		-			-
Interest expense		(149,468	)		(191,717	)
Other income		379,581			102,687
Other expense		(11,878	)		(7,453	)
Total other income (expense)		218,235			(96,483	)

Net income before income tax (credit) and
minority interest		4,716,789			2,793,303
Foreign income tax		(525,403	)		(73,497	)
Minority interest in consolidated subsidiary		10,045			(537,186	)

Net income		4,201,431			2,182,620
Other comprehensive income
Gain (loss) on investment security		-			8,368
Foreign currency translation gain (loss)		233,493			(89,556	)

Comprehensive income	$	4,434,924		$	2,101,432

Income per weighted-average common share-basic	$	0.01		$	0.03
Income per weighted-average common share-diluted	$	0.01		$	0.03

Number of weighted average common shares o/s-basic		625,826,320			76,465,837
Number of weighted average common shares o/s-diluted		725,359,016			101,465,837

Liquidity Requirements

Mon, 18 Apr 2011 04:00:00 GMT

In recent years, we have funded our working capital requirements principally through borrowings under bank lines of credit, term loans, and issuances of common stock in exchange for debt.