Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Signs LOI in China for 3rd Major Outsourcing Opportunity This Year to Add to $65 Million in Recent Contracts and Bolstering $100 Million Forecast
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - September 15, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced signing a letter of intent (LOI) in China for a second
large outsourcing opportunity in China and the third this year for Company.
The Company recently announced a $30 million contract signed with Beijing
Chuangzhitongda Technology Development and a $33 million outsourcing
agreement with WBA (Wireless Broadband Access) Telecommunications, S.A. The
Company has also signed over $2 million in contracts supporting strategic
Microsoft installations.
Thursday Webcast to Present Dividend Plan and Upgraded Public Listing
Application
NewMarket is scheduled to present a corporate update on Thursday, September
17, 2009. The presentation's agenda includes a discussion of the Company's
plan to align share price and fundamental financial performance, an update
on the previously announced dividend plan and more information on the
Company's plan to upgrade its public listing to the OTCQX. Among other
benefits, the OTCQX (www.otcqx.com) is considered a first step toward a
NASDAQ or NYSE listing. NewMarket is currently a fully-reporting public
company with audited financial reports filed with the SEC and available for
public review. A link to the Webcast is scheduled to be posted to the
corporate website www.newmarkettechnology.com upon release on Thursday.
Increase to Target $1.00 Price Per Share to Align with $100 Million in
Profitable Revenue
Management believes the Company is currently undervalued and has previously
announced a near-term goal to realize a suggested fair value target price
per share of $1.00 and as high as $2.50. Since 2002, when the Company
listed publicly through a reverse merger, NewMarket operations have
expanded from reporting approximately $1 million in annual revenue to over
$95 million in revenue in 2008. The Company has reported over $43 million
in profitable revenue for the first six months of 2009. Historically
reporting increased revenues in the second half of the year, the Company
has set a $100 million profitable revenue forecast for 2009.
Corporate Information and E-mail Updates
To sign up to receive email updates or to obtain more information on the
Company, please visit www.newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
where technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the growing
economies of China, Southeast Asia, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies.
NewMarket's rapid growth since 2002 has placed the Company on the Deloitte
Technology Fast 500 for 5 consecutive years. NewMarket was recognized as
the third fastest growing technology company in the United States in 2006
and the number one fastest growing technology company in North Texas for
two years in a row.
"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 NewMarket'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.