DALLAS, TX--(Marketwire - January 25, 2010) - NewMarket Technology, Inc. (
PINKSHEETS:
NWMT)
today released a letter to shareholders from Company Founder and Chairman
Philip Verges introducing Bruce Noller as the Chief Executive Officer. Mr.
Noller will formally succeed Philip Verges as CEO on February 1, 2010. Mr.
Verges will continue as the Company's Chairman as well as continuing to
lead NewMarket's Greenfield Partner Program. The shareholder letter
released today and included in its entirety within this press release
provides more detail on the management change and Mr. Noller's plan to lead
NewMarket's systems integration business from approximately $100 million in
annual revenue today to a goal of $1 billion within five years. Further
details are also available in the company's Virtual Town Hall videocast
released on Friday, January 22 available on demand from the Company's
website.
Dear Fellow Shareholders -
I am pleased to introduce Mr. Bruce Noller as the new CEO of NewMarket
Technology. Mr. Noller has been a vital member of the NewMarket team for
10 years. He is most recently responsible for the rollout of NewMarket's
Outsourcing and Managed Services business line accounting for approximately
$100 million in new contracts signed over the last twelve months. To learn
more about the Outsourcing and Managed Services business line at NewMarket,
I recommend viewing Mr. Noller's Webcast from January 15, this year titled
'NewMarket Outsourcing Services 2010 Webcast' available on-demand from the
Company's website at
http://www.newmarkettechnology.com/wcms_20100115.htm.
You can also watch Mr. Noller present his vision for the Company's future
in NewMarket's Virtual Town Hall Video Webcast available on the Company's
2010 Virtual Town Hall webpage,
http://www.newmarkettechnology.com/townhall2010.htm.
NewMarket's vision is to build a business globally recognized for
continuously introducing new technologies to new markets around the world.
Throughout the Company's thirteen year history, my commitment to NewMarket
has been one of passion for the Company's vision and the potential to
realize that vision for a meaningful return on investment for the
shareholders that have invested in that vision. The path has not been
easy. We have faced unexpected challenges -- some specific to our Company
and some more global, such as the collapse of the dot-com market, 9/11 and
the more recent worldwide financial crisis. We have managed to build an
operation with approximately $100 million in annual revenue coming from
China, Southeast Asia, South America and now Africa, but we have been
frustrated so far by a share price that has not yet reflected our
operational success.
In the pursuit of our vision, and in facing our various challenges along
the way, NewMarket has evolved since my family founded the first operation
in 1997. I have been the CEO since the foundation and I did not imagine at
the age of 32, in 1997, that the Company's continued path toward realizing
its vision might entail graduating to a new CEO. I like to believe I have
grown with NewMarket and today I am confident in the decision and the
timing of the decision to install a new CEO to lead NewMarket into a new
stage of development and growth. I am very confident that Mr. Noller is
the right person for the job. He knows NewMarket well and he has the
corporate organizational skills and experience to transition NewMarket from
its entrepreneurial culture to a more corporate culture with the systematic
processes to support growth to the Company's $1 billion revenue objective.
I will remain as the Company's Chairman. As Chairman I can help NewMarket
maintain an entrepreneurial balance to the more corporate culture NewMarket
needs to establish. While a larger corporate culture and systemic process
will be essential for the next stage of growth, NewMarket will always need
to sustain the entrepreneurial spirit required to find and work with the
garage and kitchen table inventors creating the next generation of
technology. In addition to serving as Chairman of the board, I will also
be responsible for NewMarket's Greenfield Partnership Program, where we
seek out technology innovators and help them get their ideas developed and
deployed. If you have not already, please take some time to view the
Company's Town Hall videocast to learn more about our Greenfield Program.
I am by no means exiting NewMarket. My family and the Company's founding
investor remain as the majority shareholder. I have a very vested interest
in the long-term success of NewMarket. I believe my new role and Mr.
Noller's new role are appropriate management updates in conjunction with
NewMarket's current stage of development. I am enthusiastic about my new
role and equally enthusiastic about Bruce Noller's ability to lead
NewMarket into the next stage of growth.
Sincerely,
Philip Verges
Founder and Chairman
NewMarket Technology, Inc.
About Bruce Noller
Bruce Noller has served as President of Managed Services and Director for
NewMarket and brings over 25 years of Financial, Operational and Marketing
experience to NewMarket. Prior to joining NewMarket, Mr. Noller served as
President of Noller and Associates Inc., a Dallas-based Accounting and Tax
firm. Prior to founding his own firm in 1994, he served as Vice President
for Integrated Control Systems, a worldwide management consulting firm.
During that time, Mr. Noller proposed and oversaw engagements with a
variety of industries including healthcare, distribution, manufacturing,
retail, banking, insurance, mining and telecommunications. Mr. Noller has
international management consulting experience in Singapore, Malaysia,
China, Canada, Latin America and Europe. Mr. Noller holds an MBA from the
University of North Texas.
Sign Up to Receive Regular NewMarket Updates
NewMarket sends regular Company updates to its opt-in, permission-based
email database. Interested investors can easily, safely and quickly
register to receive these communications directly on the corporate website
homepage at
www.newmarkettechnology.com. Recipients can manage their own
email contact profile and safely unsubscribe at any time.
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