Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces Milestone $36 Million Letter of Intent to Provide Outsourcing Services in China
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 15, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced that its subsidiary operation in China has signed a letter
of intent to provide outsourcing services to Aoyuan Electronic Co. ltd in
Dalian, China, for $36 million over three years. NewMarket previously
announced that its subsidiary operation in China had executed a $15 million
letter of intent to provide outsourcing services to this company. The
scope of the potential service agreement has increased and the letter of
intent announced today has replaced the previously announced letter of
intent.
This year, NewMarket has announced over $73 million in new contract sales,
the majority of which are long-term contracts, and that it expects record
sales in 2009 with the potential for $100 million in total contracts.
Today's announced letter of intent represents a milestone in NewMarket's
potential to reach $100 million in total contracts in 2009.
One contract announced earlier this year worth $30 million was also signed
through the Company's subsidiary operation in China and went into service
last quarter. The Company's subsidiary operation in China is a systems
integrator and is a VAR in the Chinese domestic market. NewMarket has
operations in China, Southeast Asia, Latin America and North America and
has forecasted $100 million in revenue for 2009.
NewMarket Strategic Corporate Update Webcast
Earlier this week, NewMarket released a strategic update Webcast including
discussion on sales and margin growth plans. The Webcast also provided
updates on notable debt reduction, the Company's dividend plan and a review
of the recent Beacon Equity research report on the Company with a price
target of $1.42. The Webcast agenda further includes an overview of the
Greenfield program started earlier this year and a review of the Company's
recent announcement to improve the Company's listing with an application to
the OTCQX, where companies such as Adidas, BASF, Peugeot and Benetton are
currently listed.
A link to the Webcast titled 'NewMarket Strategic Corporate Update Webcast'
is available on both the corporate website homepage and investor relations
page at www.newmarkettechnology.com.
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 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.