DALLAS, TX--(Marketwire - January 6, 2011) - NewMarket Technology, Inc. (
China Crescent was recently featured in an on-demand NewMarket Technology CEO Webcast presentation. In the presentation, NewMarket CEO Bruce Noller highlighted China Crescent's 2010 operational performance and 2011 business plan updates. China Crescent reported $50.9 million in revenue through the first nine months of 2010, compared to $30.3 million for the same period in 2009, a 67% increase. Additionally, China Crescent's net income for the first nine months of 2010 was $3.3 million, up from $1.9 million for the same period in 2009. NewMarket anticipates reporting over $100 million in revenue with a respectable bottom line in 2010. Revenue through the third quarter of 2010 was approximately $85 million compared to $75 million for the same period last year. Net income through the third quarter of 2010 was $3.9 million compared to $2.2 million for the same period in 2009. The NewMarket CEO Webcast is available for on-demand review at www.newmarkettechnology.com or directly at http://tinyurl.com/NewMarket1230.
After a year of substantial growth and expansion in 2010, China Crescent management plans to pursue a listing on a NYSE Euronext platform in 2011 as part of a broader overall NewMarket Technology Greenfield Partner national exchange listing strategy. Additionally, China Crescent plans to spin off one of its subsidiary operations in China through a transaction that would include distribution of stock in the subsidiary operation to China Crescent shareholders.
China Crescent recently released a letter to shareholders (http://tinyurl.com/CCTRLTS). The letter reviews China Crescent's operational successes in 2010 and highlights potential operational successes anticipated in 2011. The letter also reviews the Small Equity Initiative and its participation in the recent Economist Magazine's World in 2011 Festival that included President Clinton and the Clinton Foundation and in the United Nations International Strategy for Disaster Reduction (UNISDR).
A link to the Webcast scheduled for today will be posted to both the NewMarket Technology website www.newmarkettechnology.com and the China Crescent website www.chinacrescent.com upon release.
About NewMarket Greenfield Partnership Program
NewMarket launched the Greenfield Program last year to facilitate the start-up and early stage development of high-growth potential businesses. The Greenfield Program concentrates on early stage, rapid growth opportunities in the world's emerging markets, with program participants in China, Southeast Asia, South and Central America and East Africa, in addition to a handful of program participants in North America.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets technology outsourcing services in China including the sale and service of brand name technologies such as Microsoft, Cisco, IBM, HP and Dell. Following a strategic acquisition last year, the Company expanded its business line to include original design manufacturing (ODM). China Crescent reported $45 million in profitable revenue in 2009 after reporting over $40 million in revenue for both 2007 and 2008. Headquartered in Dallas with operations in China, China Crescent bridges the gap between global business cultures to assist clients worldwide realize the advantages of the high quality, low cost technology products and services available from China.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential 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, Africa, 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.
NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to 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
214-722-3065