DALLAS, TX--(MARKET WIRE)--Jul 25, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced a three-year, $10.5 million managed services contract with WBA (Wireless Broadband Access) Telecommunications, S.A. of Bogota, Colombia. This is NewMarket's first contract in Colombia. Not including this recent contract, NewMarket has approximately $20 million in annual revenue in Latin America through its operations in Brazil, Chile and Venezuela. NewMarket globally reported $93.1 million in profitable revenue in 2007 across all Company operations.
Over the next three years, NewMarket will provide a wide variety of IT Managed Services to WBA. The two companies are also forming plans to co-develop additional business. The companies are currently exploring opportunities to combine WBA's regional telecommunications experience with NewMarket's global emerging technology experience to win new contracts in the region.
Bruce Noller, President of NewMarket Managed Services, stated, "We are pleased with both the growth of our managed services as well as our expansion regionally in Latin America. WBA is a well-established broadband provider in Colombia, having implemented one of the first municipal wireless projects in the country for the city of Castilla La Nueva, Meta. We look forward to providing them with the IT services they require to grow their service offering in the area. We are excited about partnering with WBA because, like NewMarket, they are an entrepreneurial company focused on delivering next generation technologies that provide their clients a competitive edge, which is essential in today's IT marketplace."
WBA's President, Francisco Teran, stated, "We chose NewMarket because of their strong emerging technology experience combined with their Latin American presence. With NewMarket's services, we plan to diversify our own service portfolio and breadth to implement much larger projects and to become a leading provider of wireless broadband and related services not only in Colombia, but throughout Latin America as well."
$4 Million Managed Services Contract with Telefonica's Movistar
NewMarket recently announced a consolidation of the Company's global technology service operations to support the growth of the Company's recurring revenue business. Bruce Noller was named to lead the consolidated operations as the President of NewMarket Managed Services. The operations consolidated under NewMarket Managed Services account for approximately $70 million in annual revenue.
The contract with WBA represents the second major Managed Services contract since NewMarket consolidated its global service operations. Earlier this year, NewMarket's Venezuelan operation, RKM IT Solutions, announced a three-year, $4 million managed services contract with Movistar, a division of Telefonica, a major mobile phone provider in Latin America and Spain.
Corporate E-mail Updates
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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.
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