| NewMarket Technology, Inc. Signs $15 Million Service Contract to Support California Company Launchin |
|
|
|
| Thursday, 18 January 2007 | |
NewMarket Technology, Inc. Signs $15 Million Service Contract to Support California Company Launching International ExpansionDALLAS, TX, (NAMC) - NewMarket Technology, Inc. (OTCBB:NMKT) announced today the signing of a $15 million service contract to support an emerging technology company preparing to launch its innovative service offering internationally. The client has requested that its identity disclosure be delayed until a later date. The client selected NewMarket for its international experience, and competency and experience with back office solutions necessary to support the client’s ongoing and expanded operations. The $15 million service contract begins immediately and is for a three year term. Revenue will be recognized at approximately $5 million per year. NewMarket Technology’s core business strategy is to win traditional systems integration and service support contracts and subsequently introduce emerging technology products and services. About 50% of NewMarket’s estimated $70 million in 2006 revenue came from the sale and support of incumbent brand name technologies from companies such as Oracle, Microsoft and Sun. The remaining half of NewMarket’s revenue came from the sale of products and services from the Company’s portfolio of emerging technologies. Four years ago, NewMarket Technology started the innovative business plan to introduce new technologies in conjunction with the sales of traditional systems integration and technology services. The Company has grown from $2.3 million in revenue in 2003 to being recognized by Deloitte & Touche USA LLP as the fifth fastest growing technology firm in North America after building to $50 million in audited profitable revenue in 2005. More recently, NewMarket has begun to publicly list the company’s subsidiary operations. NewMarket Technology will retain a majority interest in all subsidiaries to allow the financials to be consolidated into NewMarket’s financials. NewMarket has publicly listed one subsidiary operation, NewMarket China, Inc. (OTCBB:IICP), with two more subsidiaries in the process of being listed within the first quarter of 2007. The cumulative 2007 forecasted revenue of the three subsidiary operations to be listed independently is $80 million. NewMarket will issue stock in the subsidiary operations to NewMarket shareholders in dividend distributions after the subsidiaries have progressed in terms of additional revenue growth. NewMarket China, Inc. Forecasted 2007 Revenue of $40 Million Late in 2006, NewMarket Technology completed the public listing of its Chinese subsidiary, NewMarket China (OTCBB:IICP). NewMarket's Chinese subsidiary expects to report over $20 million in revenue for 2006 and has forecasted a 100% increase in revenue in 2007 to $40 million. NewMarket anticipates continued rapid growth in China and has set a corporate goal of achieving $100 million in profitable revenue in Fiscal Year 2008. The ticker symbol will be changed in the near future to reflect the new corporate name. NewMarket Latin America, Inc. Forecasted 2007 Revenue of $30 Million NewMarket announced a letter of intent (LOI) agreement to combine its Latin American operations into Paragon Financial Corp. (OTC:PGNF) with NewMarket becoming the majority shareholder in Paragon. NewMarket currently has over $20 million in profitable annual revenue from its Latin American operations located in Venezuela, Brazil and Chile. NewMarket has forecasted $30 million in profitable revenue for 2007. NewMarket Broadband, Inc. Forecasted 2007 Revenue of $10 Million NewMarket recently announced an LOI agreement with Diamond I, Inc. (OTCBB:DMOI) to combine operations with NewMarket's Wi-Fi operations creating another NewMarket publicly listed subsidiary. NewMarket also recently announced a second LOI agreement to acquire a majority interest in its affiliate Wi-Fi operation, RedMoon, Inc. (http://biz.yahoo.com/bw/070109/20070109005776.html?.v=1). RedMoon will be combined into Diamond in conjunction with NewMarket's acquisition of a majority interest in Diamond. The combined NewMarket, Diamond and RedMoon operations will create a multi-industry Wi-Fi solution provider with a 2007 revenue forecast of $10 million. In addition, the new subsidiary will advance Diamond I’s proprietary encrypted hand-held gaming system targeted at the casino and gaming industry. RedMoon has designed, engineered and deployed mesh network solutions, providing high-speed internet service, security surveillance, automatic meter reading and mobile broadband for municipalities. In 2006, RedMoon and Chevron Energy Solutions, a Unit of Chevron Corporation (NYSE:CVX), signed a contract with the City of Burleson, Texas, to construct a wireless broadband network and implement an automatic water meter reading pilot project. http://www.chevronenergy.com/news_room/default.asp?pr=pr_20060329.asp About NewMarket Technology, Inc. (http://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 integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT), Cisco Systems (Nasdaq:CSCO), SAP (NYSE:SAP), Siebel (Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered 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 global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. "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:
|
