Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Chinese Deals Anticipated to Add $30 Million in Revenue in 2010 Reviewed in Webcast Today
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - December 15, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today released an on-demand Webcast to review two milestone transactions
anticipated to deliver approximately $30 million in revenue in 2010. One
transaction was executed last week, and the second is expected to be signed
before the end of December.
Last week, NewMarket's Chinese subsidiary announced completing the
acquisition of a China Radio Technology Ltd. subsidiary. The acquisition is
anticipated to contribute approximately $20 million in annual revenue to
NewMarket's Chinese subsidiary in 2010. NewMarket's Chinese subsidiary has
also entered into a letter of intent anticipated to provide comprehensive
technology support services to a customer in Dalian. The letter of intent
is expected to convert into a contract by the end of December worth
approximately $36 million over three years, with the potential for as much
as $10 million in revenue to be recognized by the Chinese subsidiary in
2010.
In 2008, NewMarket reported $95 million in global revenue and has
forecasted profitable revenue growth in 2009. For the first three quarters
of 2009 ending September 30, NewMarket reported $76 million in revenue with
$2.2 million in net income.
NewMarket's subsidiary operation in China is a systems integration service
provider that markets technology outsourcing services that include the sale
and service of brand name technologies such as Microsoft, Oracle, Cisco,
IBM, HP and Dell. The operation in China reported over $40 million in
annual revenue in both 2007 and 2008, and recently reported $30 million in
revenue through the first nine months of the year ending September 30,
2009, with record net income of $1.8 million.
The Webcast also presents how the recent acquisition potentially
complements both the Company's short-term and long-term return on
investment strategy.
A link to the Webcast is now available on the NewMarket corporate website
homepage and Investor Relations page at www.newmarkettechnology.com and is
titled 'NewMarket - Chinese Subsidiary Milestone Update Webcast.'
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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.