Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces $33 Million Outsourcing Agreement in South America
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 25, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
and NewMarket Colombia, SAS, a wholly-owned foreign subsidiary
headquartered in Bogota, Colombia, today announced a three-year, $33
million outsourcing agreement with WBA (Wireless Broadband Access)
Telecommunications, S.A. of Bogota, Colombia, under which WBA will
outsource substantially all of its current operations to NewMarket
Colombia. This is NewMarket's second major outsourcing agreement signed
this year. NewMarket previously announced a similar agreement in Shanghai,
China earlier this year. Approximately $25 million of NewMarket's $95
million in annual revenue reported in 2008 came from Latin America through
the Company's operations in Brazil, Chile and Venezuela.
"We are excited to enter the Colombian market with WBA and expand our reach
in Latin America," stated President of Managed Services, Bruce Noller. "We
believe NewMarket's financial and operational resources combined with WBA's
existing Information Technology and Telecommunications expertise can lead
WBA to winning larger contracts with private and public clients."
Francisco Teran, President of WBA, stated, "We believe that because of
NewMarket's track record of experience and presence in Latin America we
will be able to offer an even greater array of services in Colombia and
throughout the region."
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About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining
legacy systems and gaining a competitive edge from the latest technology
innovations. NewMarket provides certified systems integration and
maintenance services to support the prevailing industry standard solutions
from companies such as Microsoft, Oracle, Infor, Cisco Systems, SAP, Siebel
and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire
emerging technology assets to incorporate into an overall product portfolio
carefully packaged to complement the prevailing industry standard
solutions.
NewMarket delivers its portfolio of products and services through its
network of Solution Integration subsidiaries in North America and the
leading emerging markets around the world to include Latin America, China
and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and
Number Five in North America on Deloitte's 2006 Technology Fast 500, a
ranking of the 500 fastest growing technology, media, telecommunications
and life sciences companies in North America. Rankings are based on
percentage revenue growth over five years, from 2001-2005. The Company grew
from less than $1 million in revenue in 2001 to over $50 million in
profitable revenue in 2005.
The company has continued its rapid growth, reporting $77.6 million in
revenue with a net income of $5.8 million in 2006 and most recently $93.1
million in revenue with a net income of $7.3 million in 2007.
"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.