Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Anticipates 3rd Qtr Revenue Contribution From Chinese Operation to Exceed 2nd Qtr Contribution and Include Record Operating Income
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 22, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced the Company's upcoming 3rd quarter financial statement is
anticipated to include both a revenue contribution from its subsidiary
operation in China that exceeds the revenue contributed from that operation
in the previous quarter and a record operating income contribution from
that operation.
Management anticipates the Chinese subsidiary operation's better than
expected 2009 sales pipeline may result in record operating income and
profit in 2009 for that operation. Management has forecasted a $50 million
revenue contribution from the operation in China in 2009 and may increase
that revenue forecast following the completion of the 3rd quarter report.
Better than Expected 2009 Sales Pipeline in China
In addition to the Company's ongoing business, NewMarket has publicly
announced new sales contracts this year that, in total, exceed $75 million,
the majority of which are long-term outsourcing contracts in line with the
Company's new focus this year on shifting its revenue base from short-term,
project-based contracts to long-term managed services contracts. One such
outsourcing contract announced earlier this year worth $30 million over
three years with Beijing Chuangzhitongda Technology Development was signed
through the Company's Chinese subsidiary and went into service last
quarter.
NewMarket also recently announced that its subsidiary operation in China
has signed a letter of intent to provide outsourcing services to Aoyuan
Electronic Co. ltd in Dalian, China, for $36 million over three years.
The Company's subsidiary operation in China is a systems integrator and a
VAR in the Chinese domestic market. NewMarket has operations in China,
Southeast Asia, Latin America and North America and has forecasted $100
million in revenue for 2009.
Corporate Information and E-mail Updates
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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.