Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. CFO to Review Company's Modest Revenue Growth to $95 Million With Small Operating Income in Webcast Tuesday, June 23, 2009
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - June 19, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NMKT )
today announced the Company's Chief Financial Officer, Philip J. Rauch is
scheduled to conduct an on-demand Webcast Tuesday, June 23, 2009 to review
the Company's 2008 annual financial report.
The Company's revenue grew modestly in 2008 compared to 2007. NewMarket did
realize a positive operating income. However, the percentage of income from
operations was not as high as the previous year. In the upcoming Webcast,
Mr. Rauch will address the impact of the current global economic conditions
on sales and operating income. He will also review the Company's balance
sheet assets in light of the global economic crisis and a corresponding
write down to the value of those assets. The write down reduced
shareholder equity and had a non-cash impact to the profit and loss
statement that resulted in a negative net income.
Management expects the publication of the 2008 annual report will end any
speculation regarding the Company's 2008 performance. Management
recognizes that the negative net income is disappointing. However, it is
primarily the result of balance sheet adjustments that management believes
to be healthy for the Company in the long-term. Even after the write down
and the impact to the profit and loss statement, management believes the
Company share price does not reflect the fundamental financial value of the
operations.
Corporate E-mail Updates
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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.