SOURCE: NewMarket Technology, Inc.

NewMarket Technology, Inc.

November 23, 2010 09:45 ET

(NWMT) NewMarket Reports Continued 2010 Growth With $85 Million in Revenue and $4 Million in Net Income Compared to $75 Million and $2.2 Million in 2009

DALLAS, TX--(Marketwire - November 23, 2010) - NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) today announced an increase in revenue of more than 10%, reporting over $85 million through the first three quarters of 2010 compared to $75 million for the same period last year. The Company also realized a better than 75% increase in net income reporting more than $3.9 million in net income compared to $2.2 million for the same period last year.

NewMarket plans to release a Webcast later today in which management is expected to review performance through the third quarter in more detail and recently announced plans for expansion into India. The Webcast is also expected to include year-to-date updates on key developments in the Greenfield Partnership Program. The Webcast will feature Greenfield collaborative project efforts in the rapidly growing mobile and systems integration markets in East Africa between Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) and China Crescent Enterprises, Inc. (OTCBB: CCTR), with operations in mainland China, and NuMobile, Inc. (OTCBB: NUBL), a US-based mobile technology roll-up. Other Greenfield projects include a new telecom contract in Latin America for China Crescent and a special purpose Wi-Fi communication device project based in Shenzhen, China with an end customer in Japan led by China Crescent in association with NuMobile. Based on a formal letter of intent and the performance of the initial project, the Japanese customer has committed to purchase 10,000 of the custom Wi-Fi devices for a total of $160 million over the next three years.

A link to the Webcast will be posted to NewMarket Technology's corporate website, www.newmarkettechnology.com upon release.

About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology is a global small business incubator. NewMarket's current portfolio of operations provides systems integration, technology infrastructure services and emerging technology. NewMarket's operations strategically focus on providing technology and support services in emerging and developing economies with high growth rate potential 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, Africa, Brazil and Northern Latin America. Overall, NewMarket reported over $95 million in revenue for 2008 and reported over $98 million in profitable revenue for 2009.

NewMarket's operations provide services and support for both brand-name technologies, such as Microsoft, as well as emerging technologies ranging from mobile computing to various security and wireless broadband technologies. NewMarket's rapid growth since 2002 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.

Contact Information

  • Contact:
    NewMarket Technology, Inc.
    Investor Relations
    Email Contact
    214-722-3065