Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Provides More Information on Symbol Change to NWMT as Ticker Updates at TD Ameritrade, Schwab and Other Electronic Brokerages
Company Comments on $0.45 Post-Ticker Symbol Change Share Price and Temporary Trading Irregularities as Part of Ticker Symbol Change Process
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 3, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
has received shareholder questions concerning Company shares they hold in
various online brokerage accounts such as TD Ameritrade, E*Trade, Schwab,
and Scottrade. Due to the Company's ticker symbol change from "NMKT" to
"NWMT" last Friday, shareholders are encouraged to contact their online
brokerage services to discuss their access to their shares.
"The ticker symbol has recently changed as part of the Company's strategy
to align share price with fundamental financial performance," said Philip
Verges, CEO of NewMarket Technology. "The post-ticker symbol change share
price is approximately $0.45, and we anticipate that initial share price to
be better reflected once the new ticker symbol has permeated through the
various brokerage systems. In the meantime, the share price could
experience some irregularities. For example, on Friday, the Company's
stock only traded 100 shares for a total value of $1. I encourage
shareholders to contact their brokerage firm with questions regarding the
transition process. In the presentation scheduled for tomorrow, I plan to
discuss management's anticipation for the fair value target share price to
reach $1 in the near future."
On Friday, July 31, the Company's corporate ticker symbol changed from
(PINKSHEETS : NMKT ) to "NWMT." The corporate ticker change has been executed
in conjunction with a publicly disclosed plan to reduce the number of
issued and outstanding common shares. This is part of an overall plan to
gain share price traction and improve the potential return on investment
for shareholders.
Exclusive On-Demand Webcast Tuesday, August 4, 2009
Last week, NewMarket announced an exclusive on-demand Webcast scheduled to
be released tomorrow, August 4, 2009. The Webcast is expected to include
updates on operations year-to-date and the strategy to support an increased
price per share. Management anticipates reporting increased profitable
revenue for 2009 overall compared to 2008 with contracts from the first
half of the year coming on line and continued strong sales in the second
half of the year. The Company reported revenue growth in 2008 to $95
million with a positive operating income.
The Webcast will be available for viewing on-demand. A link for accessing
the Webcast is scheduled to be available on the Company's corporate website
on Tuesday, August 4, 2009.
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 $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.