Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Reviews Positive Q2'09 Financial Results With Preview of Upcoming Contracts Anticipated to Drive Record Revenue Growth in 2009
Webcast Released Today to Review 43% Net Income Increase in Q2'09 Compared to Q2'08 and $43 Million in Profitable Revenue Through First Six Months of 2009
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - August 21, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today released an on-demand Webcast reviewing the Company's second quarter
financial results. The Webcast also includes a discussion on results for
the first six months, offshore sales initiatives and the suggested $1.00 to
$2.50 fair value target price per share.
NewMarket has announced a 43% net income increase in the second quarter
2009 over the same three-month period in 2008. The approximate $1.2
million in second quarter net income beat management's expectations and
puts the Company ahead of pace for its yearend profit objectives. The
Company also realized a revenue increase in the second quarter of 2009 of
approximately 8% to $24.5 million compared to the same three-month period
last year. The revenue through the first six months of the year is
approximately $43 million with a net income of over $700,000. The
substantial net income growth can be attributed to the favorable bottom
line performance of the Company's maturing Chinese operation.
2009 Profitable Revenue Forecast Anticipated to Beat $95 Million Reported
in 2008
NewMarket management is forecasting profitable revenue growth in 2009. The
Company reported $95 million in revenue in 2008 and $93 million in 2007.
Management anticipates accelerated revenue growth in the second half of
2009 resulting from strong offshore sales.
Quarterly Performance Webcast Released Today
A link to the Webcast titled 'NewMarket 2nd Quarter Review Webcast (August
21, 2009)' is now available on the Home page and the Investor Relations
page of the NewMarket website www.newmarkettechnology.com. For assistance
accessing or listening to the Webcast, please email
ir@newmarkettechnology.com or call 214-722-3065.
Corporate Information and E-mail Updates
To sign up to receive email alerts or to obtain more information on the
Company, please visit www.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 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.