Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com www.newmarkettechnology.com
NewMarket Technology, Inc. to Update Mobility Computing Strategy to Build $20 Million in New Sales and Acquire 51% Interest in Worldwide Strategies, Inc. During May 8 Webcast
After Achieving $100 Million Annualized Revenue, NewMarket Schedules Webcast to Present Updated Strategic Plan and Increased Revenue Forecast
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - May 2, 2008) - NewMarket Technology, Inc. (OTCBB : NMKT ) will
include an update on the Company's progress to acquire a fifty-one percent
(51%) majority interest in Worldwide Strategies, Inc. (OTCBB : WWSG ) during
NewMarket's upcoming Webcast scheduled for May 8, 2008 at 4:30 pm EDT.
NewMarket and Worldwide have previously announced a binding letter of
intent (LOI).
Mobile Computing Business to be Consolidated into Worldwide Strategies
The majority interest acquisition of Worldwide is part of NewMarket's
overall plan to build a Mobile Computing Solution, to include mobile
software, mobile security and mobile access. NewMarket launched efforts to
build a Mobile Computing Solution offering in the third quarter of 2007.
The Company plans to consolidate its Mobile Computing business into
Worldwide Strategies and anticipates $20 million in sales in 2008 resulting
from the new Mobile Computing Solution offering. The anticipated sales
from the Mobile Computing Solution offering are not currently included as
part of NewMarket's 2008 forecast.
Strategic Plan Update Webcast at 4:30 pm EDT May 8, 2008
NewMarket has previously announced a scheduled Webcast at 4:30 pm EDT on
May 8, 2008 to present a strategic plan update, in which the Company
intends to announce an increase to the Company's 2008 forecast. Management
has previously provided guidance of an anticipated 20% increase in 2008
revenue over 2007. The Mobility Computing Strategy update and Worldwide
Strategies Acquisition progress will be included in the Webcast.
A link to the Webcast will be available at the Company's corporate Website
Investor Relations page at
http://www.newmarkettechnology.com/investor-relations.htm under "Current
Events and Communications" or by going to
http://www.vcall.com/IC/CEPage.asp?ID=119083.
2007 Financial Review Webcast Now Available
CFO Philip J. Rauch recently held a Webcast to discuss the Company's 2007
financial results and recent shareholder questions. NewMarket reported
$93.1 million in revenue for 2007, a 20% increase in revenue from organic
operational growth over 2006, and $7.3 million in net income, a 25%
increase in net income over 2006 before adjustments for foreign currency
exchange. Revenue in the fourth quarter of 2007 exceeded $29 million,
pushing the Company's annualized revenue over $100 million. An archive of
the call can be accessed under "Current Events and Communications" on the
NewMarket Investor Relations webpage at
http://www.newmarkettechnology.com/investor-relations.htm.
Updated Corporate Overview
An updated corporate overview including NewMarket's 2007 financial results
and an overview of the Company's systems integration and emerging
technology business and operations in North America, Asia and Latin America
is now available on the Company's Investor Relations webpage at
http://www.newmarkettechnology.com/investor-relations.htm under "Corporate
Fact Sheets."
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.
About Worldwide Strategies, Inc. (www.wideinc.com)
Worldwide Strategies is a development stage business that has built a
proprietary affinity marketing process and system to provide clients with
call center software platforms or outsourced client services to include
multi-lingual capabilities. The Company's development to date has resulted
in less than $1 million in liabilities. The affinity market business has
signed several substantial contracts, but has not yet established
substantial revenue. The Company has approximately 20 million shares
outstanding on a fully diluted basis. The NewMarket transaction is intended
to support a strategic business relationship and has been designed to have
added no additional common stock to the issued and outstanding. The
acquisition will be transacted with preferred stock including majority
voting rights.
"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.