Science & Technology
Science and Technology
Science and Technology
Mon, November 17, 2008 NewMarket Technology, Inc.: NewMarket Technology, Inc. Reports 36% Net Income Increase to $3.7 Million and 20% Revenue Increase
DALLAS, TX--(Marketwire - November 17, 2008) - NewMarket Technology, Inc. (
NewMarket reported $76 million in revenue for the first nine months of 2008 with net income of $3.7 million. Net income has increased 36% and revenue has increased 20% in the first nine months of 2008 compared to the same period last year. The Company reported $2.7 million in net income on $63 million in revenue through the third quarter of 2007.
"We are pleased to report record financial results through the third quarter of 2008," said Philip M. Verges, NewMarket CEO. "We are on track toward our goal of realizing $120 million in revenue for 2008. NewMarket historically realizes an increase in revenue in the second half of the year compared to the first. The third quarter increase this year is a slightly above average increase compared to previous years. The fourth quarter so far is also on an above average pace. We remain optimistic about NewMarket's financial performance throughout the rest of 2008 in spite of a gloomy economy. We are however being cautious to guard against the prevailing economic conditions."
Third Quarter Financial Webcast
NewMarket management will conduct a Webcast, Friday, November 21 at 12:00 pm EST to review third quarter 2008 financials.
A link to the Webcast will be available at the Company's corporate Website Investor Relations page at [ www.newmarkettechnology.com/investor-relations.htm ] under "Current Events and Communications." An archive of the Webcast will be available afterwards for review.
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.
