DALLAS, TX--(Marketwire - July 15, 2010) - NewMarket Technology, Inc. (
"Bruce Noller took charge of NewMarket as Chief Executive Officer in the first quarter of 2010 in which we subsequently reported record Q1 results with 33% year-over-year growth to $25.7 million," said Chairman and Founder Philip Verges. "I am confident in Mr. Noller's ability to manage NewMarket's operations effectively, while continuing to produce steady results. In conjunction with NewMarket's overall fundamental financial progress, the recent analyst report target price reflects a substantial increase in the Company's suggested market capitalization value. In the Webcast on Monday I will discuss NewMarket's current sub-penny price per share performance in light of the suggested increase in market capitalization value and $0.27 target price per share. I will further discuss the updated research report in both long-term and short-term return on investment frameworks. That discussion will present the price per share target and suggested market capitalization value as a preview of NewMarket's long-term return on investment potential and a validation of the Company's current share price as undervalued. I believe NewMarket is undervalued and that an opportunity presently exists for the current price per share to substantially increase and deliver what I often refer to as a milestone return. In my presentation I will explain what value I see in the research reported $0.27 target price per share and the increase in NewMarket share price I believe is possible, but why I do not anticipate an increase to $0.27 within the prevailing over-the-counter market. I hope you will find time to listen to my Webcast on Monday the 19th."
PER Independent Analyst Research Report Update
The independent analyst with Prime Equity Research is a CFA® (Chartered Financial Analyst®) charterholder. The analyst has previously conducted research for a number of Western European and North American financial institutions, including Janney Montgomery Scott. NewMarket engaged the analyst and paid for the services prior to any recommendation rating or price target to ensure objective research.
To review a copy of the initial report or the update issued this week, please visit the NewMarket corporate website under Investor Relations at www.newmarkettechnology.com or the Prime Equity Research website at www.primeequityresearch.com.
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About NewMarket Technology, Inc. (www.newmarkettechnology.com)
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. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.
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 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
ir@newmarkettechnology.com
214-722-3065