NWMT, NewMarket Technology, Inc., NWMT.PK
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NewMarket Technology, Inc. Announces 43% Net Income Increase in Q2′09 Compared to Q2′08
and $43 Million in Profitable Revenue Through First Six Months of 2009
Thursday August 20, 2009
NewMarket Technology, Inc. Announces 43% Net Income Increase in Q2′09 Compared to Q2′08 and $43 Million in Profitable Revenue Through First Six Months of 2009
DALLAS, TX�C(CRWENEWSWIRE - 08/20/09) - NewMarket Technology, Inc. (Pinksheets:NWMT) today 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.
Qu! arterly Performance Webcast Friday, August 21 to Include $1.00 - $2.50 Target PPS
Management is scheduled to review the Company��s second quarter 2009 financial performance in an on-demand Webcast tomorrow, August 21. The Webcast will include a discussion on the suggested $1.00 to $2.50 fair value target price per share. A link for accessing the on-demand Webcast is scheduled to be available on the Company��s website tomorrow.
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 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 ha! s contin ued 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.
Contact:
Contact:
NewMarket Technology, Inc.
Investor Relations
214-722-3065
ir@newmarkettechnology.com
Source: NewMarket Technology, Inc.
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