Contact Information: NewMarket Technology, Inc. Investor Relations ir@newmarkettechnology.com 214-722-3065 www.newmarkettechnology.com
NewMarket Technology, Inc. Announces $10.5 Million Managed Services Contract With WBA Telecommunications, S.A. to Provide Comprehensive IT Services
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - July 25, 2008) - NewMarket Technology, Inc. (OTCBB : NMKT ) today
announced a three-year, $10.5 million managed services contract with WBA
(Wireless Broadband Access) Telecommunications, S.A. of Bogota, Colombia.
This is NewMarket's first contract in Colombia. Not including this recent
contract, NewMarket has approximately $20 million in annual revenue in
Latin America through its operations in Brazil, Chile and Venezuela.
NewMarket globally reported $93.1 million in profitable revenue in 2007
across all Company operations.
Over the next three years, NewMarket will provide a wide variety of IT
Managed Services to WBA. The two companies are also forming plans to
co-develop additional business. The companies are currently exploring
opportunities to combine WBA's regional telecommunications experience with
NewMarket's global emerging technology experience to win new contracts in
the region.
Bruce Noller, President of NewMarket Managed Services, stated, "We are
pleased with both the growth of our managed services as well as our
expansion regionally in Latin America. WBA is a well-established broadband
provider in Colombia, having implemented one of the first municipal
wireless projects in the country for the city of Castilla La Nueva, Meta.
We look forward to providing them with the IT services they require to grow
their service offering in the area. We are excited about partnering with
WBA because, like NewMarket, they are an entrepreneurial company focused on
delivering next generation technologies that provide their clients a
competitive edge, which is essential in today's IT marketplace."
WBA's President, Francisco Teran, stated, "We chose NewMarket because of
their strong emerging technology experience combined with their Latin
American presence. With NewMarket's services, we plan to diversify our own
service portfolio and breadth to implement much larger projects and to
become a leading provider of wireless broadband and related services not
only in Colombia, but throughout Latin America as well."
$4 Million Managed Services Contract with Telefonica's Movistar
NewMarket recently announced a consolidation of the Company's global
technology service operations to support the growth of the Company's
recurring revenue business. Bruce Noller was named to lead the consolidated
operations as the President of NewMarket Managed Services. The operations
consolidated under NewMarket Managed Services account for approximately $70
million in annual revenue.
The contract with WBA represents the second major Managed Services contract
since NewMarket consolidated its global service operations. Earlier this
year, NewMarket's Venezuelan operation, RKM IT Solutions, announced a
three-year, $4 million managed services contract with Movistar, a division
of Telefonica, a major mobile phone provider in Latin America and Spain.
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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.