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China Crescent Enterprises Inc (OTCBB: CCTR) updated Investors on the company's performance on its first major outsourcing agreement. Following positive feedback in which China Crescent has reportedly enhanced its client's business,[link widoczny dla zalogowanych], the Chinese based software developer estimates an improved contract value of an additional $20m over three years.
China Crescent specializes in software engineering, high quality software development and digital multimedia outsourcing services for an international client base. The company ‘bridges the gap' between Western and Eastern business cultures to assist Western clients in realizing the advantages of outsourcing into China.
Earlier this year,[link widoczny dla zalogowanych], the Company announced signing its first major outsourcing contract worth $30 million over three years. The client's business has been enhanced as a result of the project,[link widoczny dla zalogowanych], and consequently,[link widoczny dla zalogowanych], the services required from China Crescent could expand as early as next year. Initial estimates suggest the total contract value could increase to as high as $50 million over three years.
The Chinese Software company is headquartered in Dallas with operations in Shanghai and Beijing. The company has reported over $40m in annual revenue the last two years,[link widoczny dla zalogowanych], it has forecasted $50m in profitable revenue for 2009. China Crescent reported a record net income of $1.1m through the first half of 2009.