Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Anticipates Possible Milestone Recognition From Pending $36 Million Aoyuan Electronic Agreement in China
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 29, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
recently announced a letter of intent to provide outsourcing services to
Aoyuan Electronic Co. ltd in Dalian, China, for $36 million over three
years. The letter of intent was executed by NewMarket's operating
subsidiary in China and would be the third major outsourcing contract
signed this year, bringing the total long-term revenue value of outsourcing
contracts signed in 2009 to approximately $100 million.
"Management considers the current share price for NewMarket stock reflects
an underestimation of the Company's fundamental financial performance,"
said Philip Verges, CEO and founder of NewMarket Technology. "The market
capitalization is less than 10% of the Company's annual revenue and less
than one third of the Company's shareholder equity. We anticipate that one
of the Company's upcoming developments will be recognized as a milestone
event by the market, reflected in an increased share price."
NewMarket this week released an on-demand Webcast to present more detail on
the Company's plan to increase the value of its common stock through an
innovative dividend strategy. Beacon Equity recently rated NewMarket a
'Speculative Buy' with a target price per share of $1.42. The on-demand
Webcast also includes updates on the Company's $75 million in total new
sales contracts signed in 2009, not including the pending $36 million
contract with Aoyuan in China.
A link to the Webcast is now available on both the corporate website
homepage and investor relations page at www.newmarkettechnology.com titled
'NewMarket Corporate Update Webcast.'
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.