Contact Information: Contact: NewMarket Technology, Inc. Investor Relations ir@newmarkettechnology.com 214-722-3065 www.newmarkettechnology.com
NewMarket Technology, Inc. Reports 36% Net Income Increase to $3.7 Million and 20% Revenue Increase to $76 Million Through 3rd Quarter 2008
Third Quarter 2008 Earnings Webcast Scheduled for Friday, November 21, 2008 at 12:00 PM EST
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - November 17, 2008) - NewMarket Technology, Inc. (PINKSHEETS : NMKT )
announced today that the Company has filed SEC Form 10-Q reporting its
financial performance through the third quarter of 2008.
NewMarket reported $76 million in revenue for the first nine months of 2008
with net income of $3.7 million. Net income has increased 36% and revenue
has increased 20% in the first nine months of 2008 compared to the same
period last year. The Company reported $2.7 million in net income on $63
million in revenue through the third quarter of 2007.
"We are pleased to report record financial results through the third
quarter of 2008," said Philip M. Verges, NewMarket CEO. "We are on track
toward our goal of realizing $120 million in revenue for 2008. NewMarket
historically realizes an increase in revenue in the second half of the year
compared to the first. The third quarter increase this year is a slightly
above average increase compared to previous years. The fourth quarter so
far is also on an above average pace. We remain optimistic about
NewMarket's financial performance throughout the rest of 2008 in spite of a
gloomy economy. We are however being cautious to guard against the
prevailing economic conditions."
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 will be 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 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, 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.