Contact Information: Contact: NewMarket Technology, Inc. Investor Relations ir@newmarkettechnology.com 214-722-3065 www.newmarkettechnology.com
NewMarket Technology, Inc. Announces Encouraging 4th Quarter Sales Progress While Management Remains Vigilant Monitoring the Current Global Economic Conditions
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - November 13, 2008) - NewMarket Technology, Inc. (PINKSHEETS : NMKT )
today announced continued strong 4th quarter sales progress. Due to
current global economic concerns, the Company previously announced
proactive measures to defend against possible challenges that could be
presented by the current global economic environment. However, management
anticipates that the pending 3rd quarter financial report will demonstrate
continued revenue and net income growth and that to date; 4th quarter sales
remain strong.
"NewMarket is on track to report record sales in 2008," said Philip Verges,
NewMarket CEO. "At this stage, we are confident that NewMarket will report
the highest annual revenue in its history for 2008. We are delighted that
the Company's sales remain strong despite the dismal global economy.
Nevertheless, we cannot expect the Company to remain insulated from the
global economy. We may be fortunate and finish 2008 without experiencing a
significant impact from the prevailing economy. However, the Company will
probably have to deal with one or more issues that may arise from the
global economic concerns. While the financial media has made us all
accustomed to considering corporate operations in three-month segments, we
remain focused on a longer term view. We expect NewMarket to have a record
sales year in 2008, but we continue to look ahead and plan for 2009 and
2010. We are historically an aggressive growth Company and we do not plan
to stop our aggressive growth plans, but our strategy as to how we achieve
aggressive growth will have to adapt to current economic conditions. In
the near future we will be announcing a virtual shareholder annual town
hall. At that town hall meeting, we will present our plans for managing
continued long-term growth through the likely tumultuous economic
conditions ahead of us all over the next year or two."
Third Quarter Financial Webcast
NewMarket management will conduct a Webcast, Friday, November 21 at 12:00
pm EST to review third quarter 2008 financials.
A link to the Webcast is available at the Company's corporate Website
Investor Relations page at
www.newmarkettechnology.com/investor-relations.htm under "Current Events
and Communications." An archive of the Webcast will be available afterwards
for review.
Corporate Information and E-mail Updates
To find out more about NewMarket Technology or to be added to NewMarket
Technology's e-mail database to receive company updates, please send an
e-mail to ir@newmarkettechnology.com or call 214-722-3065.
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.