Contact Information: Contact: NewMarket China, Inc. Investor Relations 214-722-3065 ir@newmarketchina.com www.newmarketchina.com
NewMarket China, Inc. Releases 3rd Quarter Report With $27.9 Million Revenue YTD
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - November 13, 2007) - NewMarket China, Inc. (OTCBB : NMCH ) today
announced filing SEC Form 10-QSB reporting the financial results for the
third quarter of 2007. The high growth company concentrated on expanding
its systems integration and emerging technology operations in China and
reported revenue of $10.6 million, bringing total revenue for the first
three quarters to $27.9 million compared favorably to 2006 total revenue
for all four quarters of $29.5 million. Net income for the three months
ended September 30, 2007 was approximately $58 thousand after accounting
for minority interest. NewMarket China's management has set a 2007 annual
revenue target of $40 million. The Company is currently executing on plans
to leverage its existing operations to expand into higher margin services
and markets to substantially increase future net income. The Company was
listed publicly near the end of last year through a reverse merger.
NewMarket China's parent company, NewMarket Technology, Inc. (OTCBB : NMKT )
will be conducting a webcast on Monday, November 19, 2007 at 4:30 pm EST to
review the Company's 3rd quarter financial performance, including results
for NewMarket China. Log on details for the webcast will be available on
www.newmarkettechnology.com on the home page under "Current Events" by
Wednesday, November 14, 2007 or can be accessed at
http://biz.yahoo.com/cc/3/87613.html.
To be added to NewMarket China's corporate e-mail list for shareholders and
interested investors, 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 China'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.