Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces 43% Net Income Increase in Q2'09 Compared to Q2'08 and $43 Million in Profitable Revenue Through First Six Months of 2009
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 20, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced a 43% net income increase in the second quarter 2009 over
the same three-month period in 2008. The approximate $1.2 million in
second quarter net income beat management's expectations and puts the
Company ahead of pace for its yearend profit objectives. The Company also
realized a revenue increase in the second quarter of 2009 of approximately
8% to $24.5 million compared to the same three month period last year. The
revenue through the first six months of the year is approximately $43
million with a net income of over $700,000. The substantial net income
growth can be attributed to the favorable bottom line performance of the
Company's maturing Chinese operation.
2009 Profitable Revenue Forecast Anticipated to Beat $95 Million Reported
in 2008
NewMarket management is forecasting profitable revenue growth in 2009. The
Company reported $95 million in revenue in 2008 and $93 million in 2007.
Management anticipates accelerated revenue growth in the second half of
2009 resulting from strong offshore sales.
Quarterly Performance Webcast Friday, August 21 to Include $1.00 - $2.50
Target PPS
Management is scheduled to review the Company's second quarter 2009
financial performance in an on-demand Webcast tomorrow, August 21. The
Webcast will include a discussion on the suggested $1.00 to $2.50 fair
value target price per share. A link for accessing the on-demand Webcast
is scheduled to be available on the Company's website tomorrow.
Corporate Information and E-mail Updates
To sign up to receive email updates or to obtain more information on the
Company, please visit www.newmarkettechnology.com.
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.