DALLAS, TX--(Marketwire - Apr 26, 2011) - NewMarket Technology, Inc. (
"NewMarket is implementing a simplified, streamlined and refocused business strategy update to increase shareholder value and enhance the opportunity for shareholders to monetize an increased value in both the near and long term," said Bruce Noller, CEO of NewMarket. "NewMarket has evolved from a technology incubation business plan implemented in 1997. The Company publicly listed on the Over-The-Counter (OTC) markets through a reverse acquisition transaction in 2002 reporting about $1 million in annual sales at that time. NewMarket has grown revenue rapidly since 2002 reaching close to $100 million in annual sales in 2009. NewMarket was recognized in 2006 in the Deloitte Fast 500 as the 3rd fastest growing technology company in the United States. However, NewMarket has struggled to establish a consistent OTC market valuation commiserate with what management considers a reasonable representation of the Company's fundamental financial performance. On Friday, I will present NewMarket's updated business strategy intended to improve the opportunity for shareholders to realize a benefit commiserate with NewMarket's business growth successes since 2002."
The CEO Webcast this Friday is expected to follow a planned Webcast presentation from CFO Philip Rauch on the Company's 2010 annual performance. The Company's subsidiary operation, China Crescent Enterprises, Inc. (PINKSHEETS: CCTR ), recently filed its annual report for 2010 on Form 10-K with the Securities and Exchange Commission. China Crescent reported $78.2 million in revenue and $4.2 million in net income for 2010, up from $45.6 million in revenue and $2.2 million in net income reported in 2009. Overall, NewMarket reported over $85 million in revenue through the first three quarters of 2010 with net income of more than $3.9 million for the same period. The Company reported over $98 million in revenue and net income of $1.6 million in 2009. The release of the NewMarket 2010 annual report has taken longer than anticipated, but the NewMarket annual report on Form 10-K is expected to be filed imminently, with the planned CFO Webcast review to follow. The Company originally expected to file the report no later than April 15th, and is currently working diligently to promptly end any further delay.
Links to the Webcasts will be posted to the Company's corporate website www.newmarkettechnology.com under 'Investor Relations' upon release and emailed to corporate email subscribers.
Recent Letter to Shareholders and Re-Focus on Systems Integration
NewMarket recently released a letter to shareholders and a Webcast from CEO Bruce Noller reviewing the Company's plans to re-focus on the information technology market. NewMarket provides systems integration services globally, primarily concentrated on emerging market regions. The recent letter and Webcast are available for review on the Company's corporate website, www.newmarkettechnology.com, under 'Investor Relations.'
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket Technology's (
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.
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NewMarket Technology, Inc.
Investor Relations