Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. Announces Final Negotiations for Anticipated New $15 Million Contract to Provide Back Office and Strategic Technology Services
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 13, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
announced that its subsidiary operation in China met today with a pending
new outsourcing client in Dalian, China to discuss terms for an anticipated
$15 million contract to provide back office and strategic technology
services. NewMarket and its subsidiaries are currently focused on shifting
the Company's revenue base from short-term, project-based contracts to
long-term managed services contracts. This year, NewMarket has announced
over $73 million in new contract sales, the majority of which are long-term
contracts, and that it expects record sales in 2009 with the potential for
$100 million in total contracts. One contract announced earlier this year
worth $30 million was also signed through the Company's Chinese subsidiary
and went into service last quarter. The Company's Chinese operation is a
systems integrator and is a VAR in the Chinese domestic market. NewMarket
has operations in China, Southeast Asia, Latin America and North America
and has forecasted $100 million in revenue for 2009.
NewMarket Strategic Update Webcast Available On-line
This morning, NewMarket released a strategic corporate update Webcast on
the Company's continued aggressive growth plans. The Webcast also includes
notable updates on the Company's transaction last week to reduce the
Company's total outstanding debt by approximately $2 million, a current
review of the Company's dividend plan and a review of the recent Beacon
Equity research report on the Company with a price target of $1.42. The
Webcast agenda further includes an overview of the Greenfield program and a
review of the Company's recent announcement to improve the Company's
listing with an application to the OTCQX, where companies such as Adidas,
BASF, Peugeot and Benetton are currently listed.
A link to the Webcast titled 'NewMarket Strategic Corporate Update Webcast'
is available on both the corporate website homepage and investor relations
page at www.newmarkettechnology.com.
Corporate Information and E-mail Updates
To sign up to receive email updates or to obtain more information on the
Company, please visit www.newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
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, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies.
NewMarket's rapid growth since 2002 has 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.