Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com www.newmarkettechnology.com
NewMarket Technology, Inc. Anticipates Timely Filing of Annual Report Detailing Strong Organic Revenue Growth and Net Income Results for 2007
Shareholder Letter Regarding Prevailing Market Available on Website
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - March 18, 2008) - NewMarket Technology, Inc. (OTCBB : NMKT )
announced today that the company fully anticipates filing their annual
report for 2007 on Form 10k in a timely manner.
CEO, Philip M. Verges, stated, "We wanted to let shareholders know that
management is working diligently toward a timely filing and that we do not
foresee, at this time, any issue with a timely filing. Given the
prevailing market conditions impacting the share price of many publicly
listed companies and the corresponding impact to the confidence of
shareholders in the impacted public companies, we wanted to communicate our
expectation to file the 2007 report in a timely manner. We expect the 2007
annual report to reflect strong organic revenue growth and continued net
income improvement."
The Company has received a number of communications from shareholders
expressing concern that some undisclosed event might account for the recent
share price performance. Last week, the Company published a letter to
shareholders addressing the prevailing market conditions and reporting that
management could point to no operational event that would account for the
current share price performance. The letter provides an update on the plan
to align share price with the fundamental financial performance of the
Company. The letter also provides an overview of market conditions to
further frame the consideration of NewMarket's current share price
performance.
The letter is available on the NewMarket web site at
http://www.newmarkettechnology.com/investor-relations.htm or by emailing
ir@newmarkettechnology.com.
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About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining
legacy systems and gaining a competitive edge from the latest technology
innovations. NewMarket provides certified integration and maintenance
services to support the prevailing industry standard solutions such as
Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently,
NewMarket continuously seeks to acquire emerging technology assets to
incorporate into an overall product portfolio carefully packaged to
complement the prevailing industry standard solutions.
NewMarket delivers its portfolio of products and services through its
network of Solution Integration subsidiaries in North America and the
leading emerging markets around the world to include, Latin America, China
and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and
Number Five in North America on Deloitte's 2006 Technology Fast 500, a
ranking of the 500 fastest growing technology, media, telecommunications
and life sciences companies in North America. Rankings are based on
percentage revenue growth over five years, from 2001-2005. The Company grew
from less than $1 million in revenue in 2001 to over $50 million in
profitable revenue in 2005. In 2006, the company continued its rapid
growth, reporting $77.6 million in revenue with a net income of $5.8
million.
"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.