Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com www.newmarkettechnology.com
NewMarket Technology, Inc. Net Income Increase From Operations in China Expected to Boost Company's Overall Higher Than Anticipated Sales and Profit Performance
Company Management to Conduct Webcast Thursday, August 21, to Discuss Q2 2008 and YTD Financial Results
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 15, 2008) - NewMarket Technology, Inc. (OTCBB : NMKT ) today
announced net income from the Company's Chinese subsidiary increased
substantially from a loss of $22k in the first six months of 2007 to a
profitable $321k for the first six months of 2008. Revenue also saw an 11%
increase over the first six months of 2007, reporting $19.2 million in
year-to-date revenue for the Chinese operation alone. Additionally, the
Chinese operation increased shareholder equity 45% ($3.7m v. $2.6m) over
the same period last year. NewMarket Technology has recently announced
year-to-date higher than anticipated North American sales. The sales
increase is expected to improve revenue and profit. The Chinese subsidiary
net income performance will enhance the Company's overall net income
performance.
Philip J. Rauch, CFO of NewMarket and the Company's Chinese subsidiary
stated, "We are very pleased with our Chinese subsidiary's continued
improvement of its fundamental financials, especially its increase in net
income. After independently listing our Chinese operations less than two
years ago, our Chinese subsidiary has matured nicely. We have made it a
point to improve the financial performance of all the companies in the
NewMarket family with a focus on both revenue growth and improved bottom
line. After a two year hiatus from mergers and acquisitions we know that
continuing to improve our fundamental financial performance will be helpful
as we seek a higher caliber of candidates for acquisition. NewMarket's
recently announced plans to acquire Everex are evidence of our increasing
financial maturity."
In 2007, the Company's Chinese subsidiary accounted for approximately 40%
of NewMarket's overall revenue reporting $40 million. Management has set a
$50 million revenue goal for the Company's Chinese subsidiary in 2008.
NewMarket reported $93.1 million in revenue in 2007 with $7.3 million in
net income across all its operations and management has set an overall $120
million 2008 revenue goal.
Earnings Webcast Thursday, August 21, 2008 at 4:15 PM EDT
NewMarket management will conduct an audio Webcast on Thursday, August 21,
2008 at 4:15 p.m. EDT to discuss the Company's year-to-date growth and
outlook for the remainder of 2008.
A link to the Webcast will be available prior to the call on NewMarket's
corporate Investor Relations page at
http://www.newmarkettechnology.com/investor-relations.htm.
Company Information and E-mail Updates
To be added to NewMarket Technology's e-mail database to receive company
updates or to obtain more information on the Company or its Chinese
subsidiary, please send an e-mail to ir@newmarkettechnology.com.
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.