NewMarket Technology, Inc. to Discuss Recent FINRA Limit Order Protection Rule for OTC Marketplace in Friday Third Quarter Webcast
Webcast to Include Recent Positive Q3 Financial Report with 36% Net Income Increase to $3.7 Million and 20% Revenue Increase to $76 Million
DALLAS, TX--(Marketwire - November 20, 2008) - NewMarket Technology, Inc. (PINKSHEETS: NMKT)
announced today that management plans to discuss the recent FINRA Limit
Order Protection rule in its upcoming third quarter review Webcast. Per
the recent rule, as of November 11, 2008, no FINRA member firm may trade
ahead of a customer limit order. According to information on the rule,
broker-dealers that handle customer limit orders in OTC equities, whether
received from their own customers or from another member firm, cannot trade
ahead of customer limit orders. This means that a firm cannot trade for
its own account at a price equal to or better than a customer limit order
without also executing the customer order. The new rule is designed to
improve the quality of executions for investors and improved market
efficiency. This specialist-type obligation on OTC broker-dealers to
execute customer limit orders price for price and share for share is
considered one of the most significant regulatory safeguards of trading
exchange-listed securities to investors in the OTC market. Limit Order
Protection is designed to contribute substantially to transparency in the
market and to results in better and fairer executions for investors, as
well as standardize the regulation of trading in listed and OTC
securities.
For more detailed information about the Limit Order Protection rule change:
http://www.finra.org/web/groups/rules_regs/documents/rule_filing/p038831.pdf
Third Quarter Financial Webcast
NewMarket recently filed third quarter and year-to-date earnings results.
The Company 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. In 2007, NewMarket reported $93.1 million in revenue
and $7.3 million in net income. The Company has set a $120 million
profitable revenue objective for 2008.
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.