DALLAS, TX--(MARKET WIRE)--Aug 13, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) is pleased to announce Founder and CEO Philip M. Verges as a finalist for the Ernst and Young Entrepreneur of the Year Award for the Southwest Area-North, which includes North Texas, Arkansas and Oklahoma and as a finalist of the Tech Titan Corporate CEO Award. Founded by Mr. Verges, NewMarket has grown from less than $1 million in revenue in 2001 to reporting $93.1 million in revenue in 2007 with $7.3 million in net income and operations in six countries throughout North America, South America and Asia. The Company has forecasted continued growth to $120 million in 2008. Prior to founding the Company, Mr. Verges held positions with Electronic Data Systems and served in the U.S Army. Mr. Verges earned a Bachelor of Science from the U.S. Military Academy at West Point and holds the rank of Captain.
Mr. Verges' nomination for E&Y's Entrepreneur of the Year was featured in premier Dallas business magazine D CEO's July issue along with Chesapeake Energy co-founder and current SandRidge Energy CEO Tom Ward, Rosewood Hotels and Resorts President and CEO John Scott and First United Bank and Trust Company President and CEO Greg Massey, among others.
In addition to his E&Y nomination, Mr. Verges is a finalist for the Metroplex Technology Business Council's Tech Titan Corporate CEO Award. The MTBC, the largest technology trade association in Texas, was founded in 1994 by MCI, Nortel Networks, Fujitsu and Rockwell International and has been host to the annual Tech Titan awards since 2001. The Tech Titan awards recognize the accomplishments of more than 4,000 technology companies in North Texas and include the Tech Titan Fast 50, a ranking of the 50 fastest-growing technology companies in North Texas based on percentage revenue growth over five years. NewMarket is the only Company to have ranked #1 on the Tech Titan Fast 50 two years in a row and has been named to the list for four consecutive years. Under Verges' leadership NewMarket has also been on the Deloitte Technology Fast 500 North America for the past three years, ranking #5 in 2006. Deloitte's Technology Fast 500 is a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America.
About MTBC/Tech Titans (www.metroplextbc.org)
Founded in 1994 by MCI, Nortel Networks, Fujitsu, and Rockwell International, the Metroplex Technology Business Council (MTBC) is a non-profit 501(c)(6) organization. Membership in the MTBC consists of technology members (80 percent of membership) and provider members (20 percent of membership). Membership is open to all technology companies. The MTBC is dedicated to fostering a supportive business environment for technology companies and members of the technology community through leadership, advocacy, education and cooperative initiatives.
The Tech Titans awards were launched in 2001 by the Metroplex Technology Business Council (MTBC), North Texas' most comprehensive organization supporting technology. The Tech Titans committee is a group of dedicated volunteers that each year organizes the annual awards ceremony. Judges are drawn from a variety of disciplines in technology, leaders in the area and past winners.
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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It is such an honor to be given awards like this one. It makes you forget about the hardships and sacrifices one went through for success.
Check out www.TheYESmovie.com, a movie Louis Lautman made about the successess of today's young millionaire entrepreneurs.
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