Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces 200% Increase in 10 Day Average Daily Trading Volume, Building Momentum for Potential PPS Increase to $1.42 Target
CEO Comments on Importance of Trading Volume in Realizing Potential PPS Increase
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 20, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced that the Company's 10 day average daily trading volume has
increased over 200% to more than 300,000 shares per day with an approximate
average $0.37 price per share. The average volume and price per share was
calculated based on the 10 trading days ending yesterday, Monday, October
19, 2009. The 200% increase was calculated based on a comparison to the
previous 10 trading days. The average daily trading volume for the
previous 10 days was approximately 100,000 shares per day with an average
share price of $0.40.
"The increased trading volume is a substantial milestone in NewMarket's
overall strategy to align share price and fundamental financial
performance," said Philip Verges, CEO and founder of NewMarket Technology,
Inc. "Beacon Equity Research recently rated NewMarket as a speculative buy
with a $1.42 target price per share. I am confident that the NewMarket
share price can realize some dramatic increases. However, I believe those
potential increases will be predicated on increased trading volume. I do
not believe it is unusual to see an initial decrease in share price as
trading volume increases. NewMarket has experienced only about an 8%
decrease in the approximate weighted average share price over the last ten
days while the trading volume has increased over 200%. I anticipate the
recent increased volume will contribute to further increases in trading
volume. Once an increased trading volume has demonstrated sustainability,
I believe at that time the NewMarket share price will have the potential to
demonstrate dramatic increases."
Yesterday, NewMarket released an on-demand Webcast to present the price per
share potential impact following a $100 million milestone achievement
announced last week. The Webcast provides further discussion on the
relationship between trading volume and potential share price increases.
The Webcast includes an overview of the recent Beacon Equity Research
report with the speculative buy recommendation with a price target of
$1.42. The Webcast features an overview of the Company's current fully
reporting compliance with OTCBB standards and the Company's intent to list
on the OTCBB and OTCQX quotation systems.
Last week, the Company announced a letter of intent to provide $36 million
in outsourcing services to Aoyuan Electronic Co. ltd in Dalian, China over
three years. The letter of intent agreement was executed by NewMarket's
operating subsidiary in China. The finalization of the $36 million contract
would increase the total revenue value of NewMarket's 2009 sales contracts
to over $100 million.
A link to the Webcast is available on both the corporate website homepage
and investor relations page at www.newmarkettechnology.com titled
'NewMarket Milestone Webcast.'
Corporate Information and E-mail Updates
To sign up to receive email updates or to obtain more information on the
Company, please visit www.newmarkettechnology.com.
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.