Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces Analyst Report Indicating 250% Price per Share Increase Potential Exceeding Previously Suggested Fair Value Target
| Source: Bright Side, LLC
DALLAS, TX--(Marketwire - October 8, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT ) is
a fully reporting public company with current audited financial reports
available for public review. The Company has recently announced a law firm
as its designated advisor for disclosure to improve the current quotation
status with an OTCQX listing. NewMarket currently reports approximately
$100 million in annual revenue. The Company delivered $43.9 million in
profitable revenue through the first half of 2009 with record net income
from its operations in China.
Yesterday, Beacon Equity Research issued a report on NewMarket that
included a speculative buy recommendation with a price target of $1.42
compared to the current price per share of $0.40. The Company had
previously issued a suggested fair value target price per share of $1.00.
"We believe the Beacon Equity Research report validates the suggested fair
value target price per share previously issued by the Company," said Philip
Verges, CEO of NewMarket Technology, Inc. "The report also makes notable
mention that NewMarket has moved away from mergers and acquisitions at this
time and has not made an acquisition in three years, instead focusing on
maturing the existing operations. The report goes on to discuss
NewMarket's efforts to avoid dilution by not pursuing mergers and
acquisitions, but also by not raising money. NewMarket is also working
diligently to reduce debt and further reduce potential dilution. We are
optimistic about the Company's potential to see an increased share price
and corresponding market capitalization alignment with fundamental
financial performance."
The full report is available at http://beaconequity.com.
Corporate Information and E-mail Updates
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Company, please visit www.newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
where technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the growing
economies of China, Southeast Asia, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies.
NewMarket's rapid growth since 2002 has placed the Company on the Deloitte
Technology Fast 500 for 5 consecutive years. NewMarket was recognized as
the third fastest growing technology company in the United States in 2006
and the number one fastest growing technology company in North Texas for
two years in a row.
"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.