Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces Research Coverage Initiated With Beacon Equity With Report Expected 1st Week in October to Review $100 Million in Profitable Annual Revenue
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - September 18, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced Beacon Equity Research has initiated research coverage on
the Company. A research report on NewMarket's operations and business plan
is anticipated the first week in October. CEO Philip Verges discusses the
research coverage in an on-demand Webcast released yesterday presenting on
the Company's plan to align share price and fundamental financial
performance.
Management believes the Company is currently undervalued and has previously
announced a near-term goal to realize a suggested fair value target price
per share of $1.00 and as high as $2.50.
Since 2002, NewMarket operations have expanded from reporting approximately
$1 million in annual revenue to over $95 million in revenue in 2008. The
Company has reported over $43 million in profitable revenue for the first
six months of 2009. Historically reporting increased revenues in the second
half of the year, the Company has set a $100 million profitable revenue
forecast for 2009.
NewMarket CEO's Letter to Shareholders
CEO Philip Verges released a personal letter to shareholders yesterday
providing updates on the Company's journey from less than $1 million in
annual revenue to reporting over $95 million in 2008. He focused on the
growth of the small business sector, noting that as a result of the past
year's global economic crisis, the return on investment (ROI) potential of
the small business sector has been given an opportunity to compete with the
before unquestionable prudence of investing in the Fortune 500. He further
discusses the Company's management commitment from both the founding team
and later additions, notably Ret. Major General Hugh G. Robinson who serves
on the Company's board of directors. Additionally, he touched upon his
recent address at the United Nations (U.N.) in New York on the public micro
equity market.
The letter can be viewed in its entirety here:
http://www.newmarkettechnology.com/newsreleases/news-20090917_1.htm.
NewMarket Dividend and Upgraded Listing Webcast
Yesterday, NewMarket released a much anticipated Webcast providing updates
on the Company's progress toward the previously announced dividend plan and
the Company's plan to upgrade its public listing to the OTCQX. The move to
the OTCQX (www.otcqx.com) is considered a first step toward a NASDAQ or
NYSE listing for the Company. NewMarket is already a fully-reporting public
company with audited financial reports filed with the SEC.
Additional progress updates include the Company's Greenfield program and
milestone successes toward improving its recurring revenue base through
garnering longer-term service contracts. This year, the Company has
already announced an approximate $65 million in new sales contracts to
include a $30 million contract signed with Beijing Chuangzhitongda
Technology Development and a $33 million outsourcing agreement with WBA
(Wireless Broadband Access) Telecommunications, S.A.
A link to the Webcast titled 'NewMarket Dividend and Upgraded Listing
Webcast' is available on both the corporate website homepage and investor
relations page at www.newmarkettechnology.com.
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.