Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065
NewMarket Technology, Inc. Reiterates Long-Term Value and Improving Milestone ROI Potential With Company on Track to Increase Profitable Revenue Beyond $100 Million
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - November 17, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today released a statement from CEO Philip Verges regarding the Company's
plans to deliver a long-term return on investment in combination with
delivering ongoing opportunities for periodic shorter horizon returns on
smaller investments in milestone successes.
Mr. Verges' statement is included in its entirety below:
"NewMarket Technology continues to build long-term value for shareholders.
We believe our third quarter financial report will demonstrate the
company's improving operations: revenue is growing, the percentage of
revenue from recurring revenue streams is increasing, operating margins are
improving and emerging market operations are posting record profits.
"We believe our current share price does not come close to reflecting the
Company's fundamental financial performance. Beacon Equity Research
recently reviewed NewMarket and suggested a speculative buy with a target
$1.42 pps. We believe the discrepancy between share price and fundamental
financial performance is due in part to the dynamics of the
over-the-counter markets that make it extremely difficult to realize a
return on investment by simple long-term share price appreciation resulting
from fundamental financial growth. We continue in our efforts to position
the Company in a manner to enhance the opportunity for
long-term share price appreciation but have also complemented our efforts
to deliver a long-term return with a dividend strategy. We believe
NewMarket has tremendous long-term return on investment potential through
our previously announced dividend strategy.
"Our most recent initiative to enhance the potential for long-term share
price appreciation has experienced a challenge today. We have been
pursuing an application to the OTCQX which requires a minimum bid price of
$0.25 be maintained for 90 days. Our current share price is below $0.25.
We are discussing the situation with our OTCQX Designated Advisor for
Disclosure (DAD). However, the OTCQX has published new rules effective
February 1, 2010 that includes a lower minimum bid price of $.10 be
maintained for 90 days. We will keep you apprised of the discussion with
our Designated Advisor for Disclosure.
"While the share price has slipped below the current OTCQX required
minimum, the trading activity appears to be establishing a liquidity point.
While the share price does not reflect what management believes to be a
fair representation of the Company's fundamental financial value, market
participants appear to be demonstrating an increased interest in trading
the common stock of NewMarket at a share price less than $0.25. As trading
volume increases, the opportunity for periodic returns on small investments
over a short horizon triggered by the Company's milestone successes
improves.
"The founders and management at NewMarket are dedicated to delivering a
long-term return to investors. We believe that long-term return includes
apprising investors of the potential for short horizon returns on smaller
investments in periodic milestone successes. We see the milestone
investment opportunity showing signs of potential improvements. We remain
committed to our dividend strategy and delivering a long-term return."
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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.