Contact Information: Contact: NewMarket Technology, Inc. Investor Relations ir@newmarkettechnology.com 214-722-3065 www.newmarkettechnology.com
NewMarket Technology, Inc. Reports Record Sales YTD With $25 Million in New Contracts Contributing to $120 Million 2008 Revenue Forecast and Anticipated Strong Sales to Continue Through End of Year
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 8, 2008) - NewMarket Technology, Inc. (OTCBB : NMKT )
conducted an aftermarket Webcast yesterday afternoon to review year-to-date
sales and progress towards the Company's 2008 $120 million organic revenue
forecast. CEO Philip Verges reported record sales year-to-date with new
customer contracts that would contribute $25 million to 2008 revenue.
Notably, the majority of the new contracts were signed with North American
clients, increasing the Company's percentage of overall revenue derived
from North America. NewMarket reported $93.1 million in revenue for 2007
with $7.3 million in net income. Approximately 70% of NewMarket's 2007
revenue came from customers outside of the United States. The $25 million
to be realized from new customer contracts in combination with revenue
expected from recurring customers that contributed to last year's $93
million in revenue puts the Company well within reach of its $120 million
2008 organic revenue forecast. NewMarket historically reports more revenue
in the second half of the year compared to the first. While North American
sales have lead the first half of the year, NewMarket is also enjoying
sales growth from its operations outside of North America and anticipates
strong sales growth to continue from operations in Asia and South America.
Mr. Verges concluded yesterday's Webcast indicating an expectation that the
year-to-date sales track record would continue throughout the year and that
a forecast increase was under consideration.
The Webcast, which lasted just over 20 minutes, also includes a review of
the Company's progress toward increasing gross margins, reducing operating
expenses as a percentage of revenue and improving cash flow. The Webcast
has been archived and can be viewed in its entirety at:
http://www.investorcalendar.com/IC/CEPage.asp?ID=132965.
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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 systems integration and
maintenance services to support the prevailing industry standard solutions
from companies such as Microsoft, Oracle, Infor, 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.
The company has continued its rapid growth, reporting $77.6 million in
revenue with a net income of $5.8 million in 2006 and most recently $93.1
million in revenue with a net income of $7.3 million in 2007.
"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.