Contact Information: Contact: NewMarket Technology, Inc. Investor Relations ir@newmarkettechnology.com 214-722-3065 www.newmarkettechnology.com
NewMarket Technology, Inc. Featured in Top Three Chinese Newspaper During Conference Near Hong Kong
CEO Discussion on Potential Share Price Uplift Due to SEC Short Selling Ban in Webcast Available Online
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - September 22, 2008) - NewMarket Technology, Inc. (OTCBB : NMKTE )
management recently participated in the "Summit on the Industrial
Transformation of Zhu Jian Delta" conference near Hong Kong. The
conference provided the Company's Chinese operations an opportunity to
reach hundreds of companies in China at once as part of those operations'
ongoing initiative to expand both its service offerings and its operations
throughout China and to evaluate potential M&A candidates. In conjunction
with the conference, NewMarket Technology was featured in the Southern
Metropolis Daily, one of the top three daily newspapers in China.
NewMarket's operations in China provide hardware and software services in
mainland China. For the first half of 2008, NewMarket's Chinese operations
have reported $19.2 million in revenue YTD, supporting the Company's global
goal of $120 million in profitable revenue for 2008. In 2007, NewMarket
reported $93.1 million in revenue with $7.3 million in net income across
all its operations.
Webcast Discussing Potential Share Price Uplift due to Friday's SEC Short
Selling Ban
Management conducted a Webcast Friday, September 19, discussing the
Company's Chinese operations' year-to-date progress. During the Webcast,
Mr. Verges discussed the potential share price uplift due to the SEC short
selling ban announced Friday. Mr. Verges is traveling in Asia at this time
with senior management from the Company's operations headquartered in
China. The Webcast was conducted from Singapore.
A link to the Webcast is available at www.chinacrescent.com, titled "China
Crescent Enterprises Year-to-Date Corporate Update Webcast." The
discussion of the SEC short selling ban was added to a previously scheduled
Webcast to review year-to-date progress in China.
Micros Report Update Highlights Price to Book Ratio of only $0.29
Underscoring the Company's Undervalued Nature and Sets Fair Value Target
Price of $0.78.
Michael Willingham, Micros Report Director of Research, recently issued an
update to his November 2007 research coverage on NewMarket.
Mr. Willingham stated in his recent update, "If the market wakes up to the
true value being built in this Company, there will be a significant
reversal of fortunes in the share price."
The update emphasizes the Company's book value of $62 million compared to
its current market capitalization of only $18 million. NewMarket's fully
diluted book value is $0.25 per share and its undiluted book value per
share is $0.30, compared to a recent close of merely $0.085 per share. "The
Company's Price-to-Book ratio has become so low, that the discount in the
Company's share price seems glaring... It is important to point out that
NMKTE currently trades well below its book value. Established firms
practically never trade below their intrinsic value. This fact alone should
see NMKTE above $0.295 a share which would be exactly 1x book value," Mr.
Willingham stated in his update.
The report goes on to assign a Fair Value Target price for NewMarket stock
of $0.78 per share: "This $0.78 fair value estimate is assigned based upon
what NMKTE has already achieved as a company in regards to their historical
profitability, historical revenue, and future projections. Based upon the
past five years' results, the future growth of the company has a high
probability of continuing. If the company can continue to grow revenue and
profits both organically and through acquisitions while keeping the
outstanding shares in check, even higher stock prices should be expected in
the future."
Interested parties may contact ir@newmarkettechnology.com to receive a copy
of the report.
Corporate E-mail Updates
To be added to NewMarket Technology's e-mail database to receive company
updates or to obtain more information on the Company, please send an e-mail
to ir@newmarkettechnology.com or call 214-722-3065.
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.