Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com www.newmarkettechnology.com
NewMarket Technology, Inc. Director and Former Dallas Federal Reserve Chairman, Major General (Ret.) Hugh Robinson, Issues Statement in Conjunction With Company's $7 Million Strategic Financing Deal
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - December 7, 2007) - NewMarket Technology, Inc. (OTCBB : NMKT ) today
released a statement from Major General (Ret.) Hugh Robinson, NewMarket
Board Member and Former Chairman of the Federal Reserve Bank of Dallas, in
conjunction with the $7 million strategic financing transaction the Company
announced yesterday.
NewMarket Director Hugh Robinson Statement Regarding Institutional
Financing
"The financing transaction announced yesterday is a landmark event in
NewMarket's corporate maturation. Not only is the dollar amount of the
transaction significant, more importantly the transaction represents
NewMarket's ability to successfully engage an institutional investment
house. I joined the NewMarket board last year because I was impressed by
management's aggressive pursuit of a meaningful and worthwhile vision to
establish an altogether new business model for introducing new technologies
into the world's under served emerging markets. I felt I could help
NewMarket transition from its early stage corporate culture and business
organization into a next-stage enterprise demonstrating the type of best
industry practices that would support the Company in its growth to a
billion dollars in annual revenue. Management has made a number of hard
choices over the last year and, in my opinion, the right choices. The
financing transaction is directly attributable to a series of steps
executed by management over the previous twelve months to prepare NewMarket
for an engagement with an institutional investor. This financing will be
the cornerstone of NewMarket's continuing corporate maturation and the
foundation for additional corporate developments in the coming year in
advancing NewMarket's business plan."
Director Major General (Ret.) Hugh Robinson Background and Experience
Major General (Ret.) Hugh Robinson is a former chairman and board member of
the Federal Reserve Bank of Dallas and currently serves on the Board of
Directors of CarMax, Inc., Aleris International, Inc., North Texas Public
Broadcasting Co., Inc., the LBJ Foundation, Inc., the Better Business
Bureau and on the Advisory Board of TXU Corp. He is a member of the Dallas
Citizens Council, the National Society of Professional Engineers, the
Greater Dallas Chamber and the Dallas Black Chamber.
A graduate of the U.S. Military Academy at West Point, Mr. Robinson also
earned a Master's Degree in Civil Engineering at Massachusetts Institute of
Technology (MIT). In addition, he received an honorary Doctor of Laws
degree from Williams College and attended the Harvard Management Program
for Executives.
More information on Mr. Robinson's background is available on the Company's
website at http://www.newmarkettechnology.com/management.htm#Hugh.
To be added to NewMarket Technology's e-mail database for shareholders and
interested investors, please send an e-mail to ir@newmarkettechnology.com.
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 integration and maintenance
services to support the prevailing industry standard solutions such as
Microsoft, 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. In 2006, the company continued its rapid
growth, reporting $77.6 million in revenue with a net income of $5.8
million.
"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.