NewMarket Technology, Inc. Announces Milestone $36 Million Contract Signed by Chinese Subsidiary
DALLAS, TX--(Marketwire - January 7, 2010) - NewMarket Technology, Inc. (PINKSHEETS: NWMT)
today announced that its Chinese operating subsidiary has signed a
three-year contract to provide information and telecommunication technology
services to Aoyuan Electronic Co. Ltd located in Dalian, China. The
contract is valued at $36 million and could contribute upwards of $10
million to the Company's revenue in 2010.
In 2009, NewMarket and its subsidiaries introduced its outsourcing services
line and focused on shifting the Company's revenue base from short-term,
project-based contracts to long-term managed services contracts. In doing
so, in 2009, the Company's regional subsidiaries signed two other large,
three-year outsourcing sales contracts, one in China worth $30 million and
one in Latin America worth $33 million.
NewMarket reported $2.2 million in net income and $76 million in revenue
through the first nine months of the year ending September 30. The Company
reported $95 million in global revenue in 2008 and has forecasted
profitable revenue growth in 2009 compared to 2008.
NewMarket provides systems integration services, to include technology
reseller, customization, integration, and support services, in China,
Southeast Asia, Latin America and North America and is actively expanding
its business services into the growing markets of East Africa. NewMarket
focuses on the rapid growth industries in emerging markets that require
technology products and services to support their growth.
NewMarket Technology Virtual Town Hall January 22, 2010
NewMarket plans to release a 2009 Virtual Town Hall January 22, 2010. The
Virtual Town Hall is scheduled to be made available online to interested
viewers on their own schedule and from their own location. Each year,
NewMarket hosts a Town Hall meeting to review the previous year's results,
to preview the Company's plans for the year ahead and outline plans to
evolve the Company's growth strategy while adopting lessons learned. A
link to the Town Hall will be posted on the Company's corporate website,
www.newmarkettechnology.com, upon release.
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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.
Contact Information: Contact:
NewMarket Technology, Inc.
Investor Relations
214-722-3065
ir@newmarkettechnology.com