Contact Information: NewMarket China, Inc. Investor Relations 214-722-3065 ir@newmarketchina.com
NewMarket China, Inc., Director Paul K. Danner, to Interview on CEOcast to Review $50 Million Revenue Forecast and $0.83 vs. $0.11 PPS Recommendation
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - March 3, 2008) - NewMarket China, Inc. (OTCBB : NMCH ) today
announced Managing Director of Asian Operations, Paul K. Danner will
interview with CEOcast tomorrow at 9 AM EST. Mr. Danner recently joined
NewMarket China in a newly created role and will discuss his agenda in his
new role in the interview. Additionally, Mr. Danner will review the
Company's rapid three-year growth to approximately $40 million in annual
revenue and the 2008 forecast to continue to grow organically to a
profitable $50 million in annual revenue. In the interview, Mr. Danner
will also discuss a recent analyst report on NewMarket China recommending a
fair market target price per share of $0.83 vs. the recent $0.11 price per
share.
25% Forecasted 2008 Growth to Profitable $50 Million in Revenue
NewMarket China recently announced a 2008 forecast anticipating twenty-five
percent growth to $50 million in profitable revenue. The Company reported
$29.5 million in revenue in 2006 and estimates reporting $40 million in
revenue for 2007. The Company has already reported $27.9 million in revenue
for the first three quarters of 2007 and has maintained breakeven
profitability for the last two years. The anticipated revenue increase is
based on expected organic growth from current operations. Management is
considering acquisition opportunities, as well as investments to increase
sales in North America, fulfilled from its Chinese operations. Any
potential revenue from prospective acquisitions will be added to the 2008
forecast after any acquisition is completed.
Micros Research Report Fair Value Target Price of $0.83
Research coverage of NewMarket China was initiated by Micros Report earlier
this year. The report states, "With three years of operational history in
mainland China and roughly $90 million in aggregate revenues, NewMarket
China is an interesting young company that is proving its high growth
business model in a high growth geographic area. The company was formed in
2005, setting its sights on the technology industry and the upshot
potential in China specifically."
The Fair Value Target price for NMCH of $0.83 was established using a peer
comparison study and widely accepted valuation methodologies including
Price-to-Earnings, Price-to-Book, and Price-to-Sales. The Analyst Report
can be viewed in its entirety at
http://newmarkettechnology.com/MicrosReport_NMCH_20071231.pdf.
Corporate Email Updates
To be added to NewMarket China's e-mail database to receive company
updates, or to request information on the company, please send an e-mail to
ir@newmarketchina.com.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing
Chinese market specializing today in software engineering, high quality
software development and digital multimedia outsourcing services delivered
to customers globally. At the same time, the firm is a systems integrator
and value added reseller of major global hardware brands in the Chinese
domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket
China bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. NewMarket China
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"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.