DALLAS, TX--(MARKET WIRE)--Jun 24, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) CEO Philip M. Verges today released a letter to shareholders regarding yesterday's announcement of the Company's binding agreement to acquire Everex. The letter is included in its entirety below.
Dear Fellow Shareholders,
Yesterday afternoon NewMarket Technology announced an agreement with FIC of Taiwan to acquire a 75% interest in Everex of Fremont, CA.
NewMarket Technology, Inc. to Acquire Everex, a Respected Brand Name in Personal Computing Reporting Approximately $60 Million in Revenue in 2007
Everex is a respected brand name in personal computing established in 1983, and headquartered in Fremont, California. As a market leader in producing innovative products, Everex has sold millions of PCs and peripheral components worldwide. Everex annual sales in 2007 were approximately $60 million.
Everex will be the cornerstone of NewMarket's previously announced mobility technology solutions initiative. As an example, Everex recently introduced its latest highly portable computing device named the CloudBook. The CloudBook is an ultra mobile, low cost and lightweight portable computer. Furthermore, the CloudBook is WiMax enabled in preparation for the next generation in wireless broadband internet access. WiMax technology will offer wireless broadband connectivity ranges in miles that will make it possible to access the internet from almost anywhere.
NewMarket anticipates the transaction with FIC to acquire Everex to be a transformational event for NewMarket. In addition to serving as the foundation of our Mobility Strategy, the transaction will substantially increase NewMarket's North American sales to be commensurate with NewMarket's Asian and South American sales. Today, NewMarket's overseas sales have grown so rapidly that they have outpaced its North American sales. This transaction will serve to bring much more balance to the Company's regional revenue streams.
FIC is a leading global manufacturer in the computer industry with a growing presence in the communication and consumer electronics markets. As part of the Company's due diligence effort, the NewMarket Board of Directors has retained outside investment banking advice to assess the overall financial impact of this transaction on NewMarket. The analysis report will be completed well before the targeted September closing.
I am sure shareholders are eager to hear the details of the transaction. Considering the transaction still has substantial time until it closes, the details are being kept confidential at this time. As we approach the September closing date, some of the transaction's details will be made available in stages. However, even after the September closing date many details regarding the Company's Mobility Strategy will remain confidential to protect its competitive advantage in the marketplace. The next generation of WiMax internet access and mobile computing devices is set to radically alter the way the world works and plays. This is a huge opportunity for the future of NewMarket.
The transaction is the largest single transaction NewMarket has ever entered into. We expect the transaction to demonstrate a culmination to date of NewMarket's efforts to realize its corporate vision of building independently listed subsidiaries and continuously introducing new technologies. The Everex product line and the Mobility Strategy will significantly enhance many of NewMarket's existing emerging market and emerging technology initiatives. It is very important to note that the structure of the acquisition does not entail the issue of any NewMarket Technology common stock nor a security which would subsequently result in the later issue of NewMarket Technology common stock.
The Company will conduct a Webcast Thursday afternoon, June 26, to briefly highlight the benefits of the transaction for NewMarket shareholders and shareholders in the family of independently listed NewMarket subsidiaries. Details regarding the Webcast will be forthcoming.
Best Regards,
Philip M. Verges
CEO and Founder
NewMarket Technology, Inc.
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This communication contains forward-looking statements that involve risks and uncertainties. The statements in this communication 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.
Tuesday, June 24, 2008
Monday, June 23, 2008
NewMarket Technology, Inc. to Acquire Everex, a Respected Brand Name in Personal Computing Reporting Approximately $60 Million in Revenue in 2007
In Part of Comprehensive Plan to Launch a National Mobility Solution, NewMarket Signs Binding Agreement With FIC to Acquire 75% Interest in Everex
DALLAS, TX--(MARKET WIRE)--Jun 23, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) has entered into a binding agreement with First International Computer, Inc. (FIC) to acquire a 75% interest in Everex. The acquisition is part of a comprehensive plan to build a national mobility technology solution.
Source: NewMarket Technology, Inc.
9 inches, 2 pounds, 5 hours of battery life. Surf, email, blog, IM, Skype, compute.
Everex
Established in 1983, and headquartered in Fremont, California, Everex is one of the most experienced and trusted brands in the personal computer industry. As a market leader in producing innovative products, Everex has sold millions of PCs and peripheral components worldwide. Everex annual sales in 2007 were approximately $60 million.
Mobility Technology Solution
Everex will be the cornerstone of NewMarket's previously announced mobility technology solution. Everex recently introduced the CloudBook -- an ultra mobile, low cost and lightweight portable computer. The CloudBook is WiMax enabled in preparation for the soon coming next generation in ubiquitous network access.
September 2008 Closing and Purchase Agreement Details
The definitive and binding agreement between NewMarket and FIC is targeted to be complete by September of this year. The terms of the agreement are confidential. Because of the magnitude of the of the transaction, the NewMarket Board of Directors has determined it is in the best interest of the Company to retain outside investment banking advice to assess the overall financial impact to NewMarket. The analysis report will be completed well before the targeted September closing.
NewMarket Technology, Inc.
NewMarket is a technology innovation company. The Company has established a core systems integration business (similar to IBM and EDS) selling and servicing recognized technology solutions from brand name leaders such as Microsoft and Oracle. The core systems integration service accounts for approximately 70% of the Company's approximate $100 million in annual revenue and creates a channel to market for introducing a portfolio of new technologies that account for the balance of the Company's revenue. The Company has further accelerated its sales growth by concentrating business development efforts in the world's fast growing emerging regional economies. Asia and South America account for the majority of NewMarket's sales today. In addition to launching a mobility solution offering, the acquisition of Everex will bring NewMarket's North American sales in balance with its foreign region sales.
First International Computer, Inc. (FIC)
FIC is a dominant force in the technology market both in research and development, and manufacturing. As Computer, Communication and Consumer Electronics (3C) markets have converged, FIC has introduced many new and innovative 3C products, becoming a respected leader in the 3C industry, adding to the Company's long history of producing award winning motherboards. FIC will be a strategic supplier to the NewMarket mobility business.
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
NewMarket Technology, Inc. (www.newmarkettechnology.com)
Everex (www.everex.com)
First International Computer, Inc. (FIC) (http://www.fic.com.tw/)
"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 provisions 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.
MEXP Details Its Joint Venture Partner's Successful Field Testing Operations in Immediate Preparation for Its Survey in Search of Sunken Treasure
Marine Exploration, Inc. - MEXP Details Its Joint Venture Partner's Successful Field Testing Operations in Immediate Preparation for Its Survey in Search of Over $100,000,000 in Sunken Treasure
MIAMI, FL--(MARKET WIRE)--Jun 23, 2008 -- Marine Exploration, Inc., trading under stock symbol (Other OTC:MEXP.PK - News), is pleased to report that Burt D. Webber, Jr., at the helm of its Joint Venture Partner, Hispaniola Ventures, LLC has successfully completed field testing operations in immediate preparation for its survey for targeted sunken vessels. Operating on the well-known 1733 Capitana wreck site off the Florida Keys, Webber and his team tested and calibrated their one-of-a-kind Geometrics diver-operated cesium magnetometers and state-of-the-art Geometrics vessel towed cesium magnetometer over a two-day exercise. Taking to the water to run his Operational Director through training, Mr. Webber expressed: "It was a thrill to put the new equipment through its paces and train my team for the serious work ahead."
The exercise served to ensure the proper operational functionality of this equipment, designed to Webber's specifications, ahead of the maiden voyage of the Ocean Lady.
About Marine Exploration, Inc.
Marine Exploration, Inc. is currently pursuing two primary projects north of the Dominican Republic for which an exclusive state-of-the-art host country treasure-salvage contract is in place. Long term, the Company will explore up to fourteen more wrecks under the Dominican Contract and has plans in place to pursue additional multiple notable shipwrecks worldwide.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
MIAMI, FL--(MARKET WIRE)--Jun 23, 2008 -- Marine Exploration, Inc., trading under stock symbol (Other OTC:MEXP.PK - News), is pleased to report that Burt D. Webber, Jr., at the helm of its Joint Venture Partner, Hispaniola Ventures, LLC has successfully completed field testing operations in immediate preparation for its survey for targeted sunken vessels. Operating on the well-known 1733 Capitana wreck site off the Florida Keys, Webber and his team tested and calibrated their one-of-a-kind Geometrics diver-operated cesium magnetometers and state-of-the-art Geometrics vessel towed cesium magnetometer over a two-day exercise. Taking to the water to run his Operational Director through training, Mr. Webber expressed: "It was a thrill to put the new equipment through its paces and train my team for the serious work ahead."
The exercise served to ensure the proper operational functionality of this equipment, designed to Webber's specifications, ahead of the maiden voyage of the Ocean Lady.
About Marine Exploration, Inc.
Marine Exploration, Inc. is currently pursuing two primary projects north of the Dominican Republic for which an exclusive state-of-the-art host country treasure-salvage contract is in place. Long term, the Company will explore up to fourteen more wrecks under the Dominican Contract and has plans in place to pursue additional multiple notable shipwrecks worldwide.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Thursday, June 19, 2008
NewMarket Technology, Inc. Releases CEO Shareholder Letter Discussing Managed Services, Debt Reduction and Management Realignment
DALLAS, TX--(MARKET WIRE)--Jun 19, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today released a letter to shareholders from Philip Verges, the Company CEO. The letter is included in its entirety below:
Dear Fellow Shareholders -
The Company has recently made a number of announcements regarding several topics. In response to some of the announcements, we have received a number of shareholder questions. In hindsight, a few of the announcements may not have adequately explained the relevant shareholder value.
First off, I apologize. I am collaborative by nature and NewMarket's communications reflect my collaborative nature. The collaborative approach has resulted in providing NewMarket with a flow of sales opportunities and acquisition targets that I contest as unprecedented for a company of our size. We have also generated invaluable feedback from shareholders that has substantially contributed to the ongoing evolution of NewMarket's business model to continuously introduce new technologies to market. We are working to improve our collaborative approach to sustain its benefits, but at the same time reduce unnecessary confusion.
In the meantime, let me clarify the topics on which we have received questions. All four topics reflect important points that specifically enhance shareholder value.
1. Managed Services Strategy
On Monday, NewMarket announced a $4 million three year contract with Movistar, a division of Telefonica. This contract demonstrates the Company's strategy to transition our revenue from recurring short term contracts into recurring revenue from long-term managed services contracts. The recurring revenue from managed service contracts generally receives substantially higher price to sales and price to earnings valuations than revenue from shorter term contracts. This is because managed service revenue is in essence, a foundation of sales that can be built upon, rather than a sale that has to be renewed more frequently. We intend to announce further demonstrations of our move to make managed services an increasing percentage of our sales.
2. Debt Pay Down Strategy
NewMarket has recently communicated the retirement of a $3 million credit facility. The debt pay down was a conscious and proactive choice by management. We did not have to pay off the debt, but we decided it was in the best interest of the Company and its shareholders. The terms of this particular credit facility were contrary to our international strategy, and its ongoing documentation requirements were consuming valuable management resources that would be better used growing the Company.
NewMarket is internationally focused and U.S. lenders typically do not place the same value on receivables or the other assets generated from overseas operations as they do for those generated in the U.S. Since credit facilities are typically secured by a company's assets, NewMarket's existing debt is not serving the Company's strategic priorities as well as it could, due to the bias of U.S. lenders. The majority of NewMarket's growth is international and the terms of NewMarket's credit facilities are not as advantageous towards international expansion as they are towards domestic, U.S. expansion. Reducing, replacing, or eliminating this existing debt is an improvement for shareholders and the Company. We are working toward a full payoff, substantial reduction, or looking for new lending partners who understand and more fully value the nature of our overseas assets.
3. Bruce Noller's Role as President
We have recently announced Bruce Noller as the President of our Managed Services business. Our Managed Services business was explained in detail in a PowerPoint Webcast that can still be viewed at http://biz.yahoo.com/cc/4/93884.html. The objective of the Managed Services strategy is to improve the Company's value by extending the average length of customer contracts and improving the efficiency of our regional operations through the consolidation of our back office functions. This is an important initiative for the Company and its shareholders. As explained above, by transitioning the current business that represents 70% of the Company's existing revenue into managed services, we have the opportunity to grow sales more rapidly from a strong foundation and enjoy improved valuation in the market. Mr. Noller is a long-time known resource who has been involved with NewMarket for years. His understanding of the organization and his dedication to the Managed Services business will free me to concentrate on the Company's expansion into new markets and new technologies.
4. John Verges' Ongoing Role
Paul Danner was recently announced as the CEO of NewMarket's Chinese subsidiary. Mr. Danner follows in the footsteps of John Verges who served as the founding CEO of the Company's Chinese subsidiary. The transition has not been a sudden change, but rather a planned transition that has been in the works for over six months. Mr. Danner and Mr. Verges have been working side by side in China since the beginning of the year to not only introduce Mr. Danner to all of the Company's key participants, but to make sure Mr. Danner has a full working knowledge of the organization.
John Verges is one of the founders of NewMarket Technology, Inc. The Company was founded by my family in 1997 and John Verges is my brother. While he has transitioned out of the role as the CEO of the Company's Chinese subsidiary, he has by no means left the Company. After eleven years at NewMarket, he has acquired a broad base of experience through his participation in the Company's expanding operations. He participated in many company initiatives prior to the launch of NewMarket's Chinese subsidiary, and he will participate in future endeavors as well. John Verges will now serve as Managing Director of Red River Advisors, a third party private entity established a year ago to serve the needs of growing small businesses. Small businesses, particularly publicly traded small businesses, have a need for robust and dynamic business planning, financial planning counsel, and clear corporate communication strategies. In his new role, John Verges will now serve in a senior corporate communications role for NewMarket that will not only encompass the Company's Chinese operations, but the entire organization to include Southeast Asia, Latin America and any new market the Company enters. The communication of the Company's strategy and fundamental financial standing to Wall Street and the global investment community is essential to the Company's ongoing growth, its plans to expand well beyond $100 million in annual revenue, and the long-term market value of the Company.
Thank you for your feedback. While our collaborative communication style may have resulted in some inadvertent confusion, it nevertheless has generated great feedback that has helped me to make NewMarket a stronger Company. With the focused efforts of Paul Danner, Bruce Noller, and John Verges, we will strive to improve the Company's communications, reduce unnecessary confusion, grow the company and increase its value in the marketplace.
Thank you for your consideration and best regards,
Philip Verges
CEO
NewMarket Technology, Inc.
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.
"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.
Dear Fellow Shareholders -
The Company has recently made a number of announcements regarding several topics. In response to some of the announcements, we have received a number of shareholder questions. In hindsight, a few of the announcements may not have adequately explained the relevant shareholder value.
First off, I apologize. I am collaborative by nature and NewMarket's communications reflect my collaborative nature. The collaborative approach has resulted in providing NewMarket with a flow of sales opportunities and acquisition targets that I contest as unprecedented for a company of our size. We have also generated invaluable feedback from shareholders that has substantially contributed to the ongoing evolution of NewMarket's business model to continuously introduce new technologies to market. We are working to improve our collaborative approach to sustain its benefits, but at the same time reduce unnecessary confusion.
In the meantime, let me clarify the topics on which we have received questions. All four topics reflect important points that specifically enhance shareholder value.
1. Managed Services Strategy
On Monday, NewMarket announced a $4 million three year contract with Movistar, a division of Telefonica. This contract demonstrates the Company's strategy to transition our revenue from recurring short term contracts into recurring revenue from long-term managed services contracts. The recurring revenue from managed service contracts generally receives substantially higher price to sales and price to earnings valuations than revenue from shorter term contracts. This is because managed service revenue is in essence, a foundation of sales that can be built upon, rather than a sale that has to be renewed more frequently. We intend to announce further demonstrations of our move to make managed services an increasing percentage of our sales.
2. Debt Pay Down Strategy
NewMarket has recently communicated the retirement of a $3 million credit facility. The debt pay down was a conscious and proactive choice by management. We did not have to pay off the debt, but we decided it was in the best interest of the Company and its shareholders. The terms of this particular credit facility were contrary to our international strategy, and its ongoing documentation requirements were consuming valuable management resources that would be better used growing the Company.
NewMarket is internationally focused and U.S. lenders typically do not place the same value on receivables or the other assets generated from overseas operations as they do for those generated in the U.S. Since credit facilities are typically secured by a company's assets, NewMarket's existing debt is not serving the Company's strategic priorities as well as it could, due to the bias of U.S. lenders. The majority of NewMarket's growth is international and the terms of NewMarket's credit facilities are not as advantageous towards international expansion as they are towards domestic, U.S. expansion. Reducing, replacing, or eliminating this existing debt is an improvement for shareholders and the Company. We are working toward a full payoff, substantial reduction, or looking for new lending partners who understand and more fully value the nature of our overseas assets.
3. Bruce Noller's Role as President
We have recently announced Bruce Noller as the President of our Managed Services business. Our Managed Services business was explained in detail in a PowerPoint Webcast that can still be viewed at http://biz.yahoo.com/cc/4/93884.html. The objective of the Managed Services strategy is to improve the Company's value by extending the average length of customer contracts and improving the efficiency of our regional operations through the consolidation of our back office functions. This is an important initiative for the Company and its shareholders. As explained above, by transitioning the current business that represents 70% of the Company's existing revenue into managed services, we have the opportunity to grow sales more rapidly from a strong foundation and enjoy improved valuation in the market. Mr. Noller is a long-time known resource who has been involved with NewMarket for years. His understanding of the organization and his dedication to the Managed Services business will free me to concentrate on the Company's expansion into new markets and new technologies.
4. John Verges' Ongoing Role
Paul Danner was recently announced as the CEO of NewMarket's Chinese subsidiary. Mr. Danner follows in the footsteps of John Verges who served as the founding CEO of the Company's Chinese subsidiary. The transition has not been a sudden change, but rather a planned transition that has been in the works for over six months. Mr. Danner and Mr. Verges have been working side by side in China since the beginning of the year to not only introduce Mr. Danner to all of the Company's key participants, but to make sure Mr. Danner has a full working knowledge of the organization.
John Verges is one of the founders of NewMarket Technology, Inc. The Company was founded by my family in 1997 and John Verges is my brother. While he has transitioned out of the role as the CEO of the Company's Chinese subsidiary, he has by no means left the Company. After eleven years at NewMarket, he has acquired a broad base of experience through his participation in the Company's expanding operations. He participated in many company initiatives prior to the launch of NewMarket's Chinese subsidiary, and he will participate in future endeavors as well. John Verges will now serve as Managing Director of Red River Advisors, a third party private entity established a year ago to serve the needs of growing small businesses. Small businesses, particularly publicly traded small businesses, have a need for robust and dynamic business planning, financial planning counsel, and clear corporate communication strategies. In his new role, John Verges will now serve in a senior corporate communications role for NewMarket that will not only encompass the Company's Chinese operations, but the entire organization to include Southeast Asia, Latin America and any new market the Company enters. The communication of the Company's strategy and fundamental financial standing to Wall Street and the global investment community is essential to the Company's ongoing growth, its plans to expand well beyond $100 million in annual revenue, and the long-term market value of the Company.
Thank you for your feedback. While our collaborative communication style may have resulted in some inadvertent confusion, it nevertheless has generated great feedback that has helped me to make NewMarket a stronger Company. With the focused efforts of Paul Danner, Bruce Noller, and John Verges, we will strive to improve the Company's communications, reduce unnecessary confusion, grow the company and increase its value in the marketplace.
Thank you for your consideration and best regards,
Philip Verges
CEO
NewMarket Technology, Inc.
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.
"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.
Tuesday, June 17, 2008
Worldwide Strategies Inc. Appoints Philip M. Verges, CEO of NewMarket Technology, Inc., to Board of Directors as Part of Mobile Technology Partnership
DENVER, CO--(MARKET WIRE)--Jun 17, 2008 -- Worldwide Strategies, Inc. (OTC BB:WWSG.OB - News) today announced the Company has appointed Mr. Philip M. Verges, CEO of NewMarket Technology, Inc. (OTC BB:NMKT.OB - News), to its board of directors. This move is part of a strategic partnership to build a comprehensive mobile computing technology business as first announced in our joint LOI in February 2008. The partnership will acquire firms within the segment as previously announced over the next year.
James P.R. Samuels, Chief Executive Officer of Worldwide Strategies Inc., stated, "The Company is beginning to change its focus and requires different skills on our board to meet the changing requirements of our business. Mr. Philip Verges, Chairman and Founder of NewMarket Technology, Inc., has a strong technical understanding of this industry and has himself developed the NewMarket Technology firm from infancy to consistent growth and profitability. His leadership and strong technical ability will be an excellent asset to our board."
Philip M. Verges stated, "Working with Mr. Samuels is a privilege. His extensive experience in corporate finance has been instrumental in the development of key acquisition opportunities. With Mr. Samuels' credentials and participation, NewMarket and World Wide together have been able to build an acquisition pipeline with opportunities of substantial magnitude, quality and existing brand recognition. I anticipate the NewMarket and Worldwide partnership to be a summit event for the shareholders of both Companies, enabling each to reach even higher future summits."
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
About Worldwide Strategies, Inc. (www.wideinc.com)
Worldwide Strategies, Inc. is a development tool stage business that has built a proprietary affinity marketing process and system to provide clients with outsourced services including multi-language capabilities. The affinity market business has signed several substantial contracts but has not established significant revenue.
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 integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, 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 $93.1 million in revenue and $7.3 million in net income 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 provisions 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.
James P.R. Samuels, Chief Executive Officer of Worldwide Strategies Inc., stated, "The Company is beginning to change its focus and requires different skills on our board to meet the changing requirements of our business. Mr. Philip Verges, Chairman and Founder of NewMarket Technology, Inc., has a strong technical understanding of this industry and has himself developed the NewMarket Technology firm from infancy to consistent growth and profitability. His leadership and strong technical ability will be an excellent asset to our board."
Philip M. Verges stated, "Working with Mr. Samuels is a privilege. His extensive experience in corporate finance has been instrumental in the development of key acquisition opportunities. With Mr. Samuels' credentials and participation, NewMarket and World Wide together have been able to build an acquisition pipeline with opportunities of substantial magnitude, quality and existing brand recognition. I anticipate the NewMarket and Worldwide partnership to be a summit event for the shareholders of both Companies, enabling each to reach even higher future summits."
Corporate Email Updates
To be added to NewMarket Technology's e-mail database to receive company updates, please send an e-mail to ir@newmarkettechnology.com.
About Worldwide Strategies, Inc. (www.wideinc.com)
Worldwide Strategies, Inc. is a development tool stage business that has built a proprietary affinity marketing process and system to provide clients with outsourced services including multi-language capabilities. The affinity market business has signed several substantial contracts but has not established significant revenue.
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 integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, 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 $93.1 million in revenue and $7.3 million in net income 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 provisions 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.
Monday, June 16, 2008
NewMarket Technology, Inc. Announces $4 Million Contract With Movistar, a Division of Telefonica
Three-Year Managed Services Contract Follows Recently Announced Corporate Realignment and Plans for $100 Million in Recurring Revenue Contracts
DALLAS, TX--(MARKET WIRE)--Jun 16, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced a $4 million contract with Movistar (http://www.movistar.com.ve/). Movistar, a division of Telefonica (http://www.ve.telefonica.com/), is a major mobile phone operator in Latin America and Spain.
The contract was signed with Movistar by NewMarket's subsidiary operation in Venezuela, RKM IT Solutions. Over the next three years, RKM will provide Microsoft Licensing and managed services to Movistar.
Movistar began operations in Latin America in the 1990's and now services more than 126 million customers and is the leading provider of mobile phone services in Venezuela, Brazil, Chile, Peru and Argentina.
Earlier this year, NewMarket also announced the completion of an Oracle Hyperion Business Intelligence implementation for Movistar (http://www.newmarkettechnology.com/newsreleases/news-20080408_1.htm).
NewMarket Managed Services
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. NewMarket reported $93.1 million in overall revenue in 2007 with $7.3 million in net income. The additional, approximately $23 million in revenue was derived through the Company's ongoing development of new technologies.
For more information on the Company's realignment, go to http://biz.yahoo.com/cc/4/93884.html to view Management's recent Webcast in its entirety.
Plans for $100 Million in Recurring Revenue Contracts
NewMarket's Bruce Noller was recently interviewed by Wall Street Reporter. In the interview, Mr. Noller discusses the plan to convert at least half of the Company's approximate $70 million in annual technical services revenue from project sales contracts into three-year contracts.
"The Company has a good reputation with customers and the repeat business to prove it," explains Mr. Noller. "Now we are going to turn those repeat customers into long-term customers. We started our campaign last year to turn recurring customers into recurring revenue. Our plan for 2008 is to convert half our tech services revenue into three-year contracts. Converting half of NewMarket's approximately $70 million in tech services revenue would result in $100 million in recurring revenue contracts."
To listen to the interview in its entirety, go to http://wallstreetreporter.com/page.php?page=featured&tab=2&id=27794.
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.
"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.
DALLAS, TX--(MARKET WIRE)--Jun 16, 2008 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced a $4 million contract with Movistar (http://www.movistar.com.ve/). Movistar, a division of Telefonica (http://www.ve.telefonica.com/), is a major mobile phone operator in Latin America and Spain.
The contract was signed with Movistar by NewMarket's subsidiary operation in Venezuela, RKM IT Solutions. Over the next three years, RKM will provide Microsoft Licensing and managed services to Movistar.
Movistar began operations in Latin America in the 1990's and now services more than 126 million customers and is the leading provider of mobile phone services in Venezuela, Brazil, Chile, Peru and Argentina.
Earlier this year, NewMarket also announced the completion of an Oracle Hyperion Business Intelligence implementation for Movistar (http://www.newmarkettechnology.com/newsreleases/news-20080408_1.htm).
NewMarket Managed Services
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. NewMarket reported $93.1 million in overall revenue in 2007 with $7.3 million in net income. The additional, approximately $23 million in revenue was derived through the Company's ongoing development of new technologies.
For more information on the Company's realignment, go to http://biz.yahoo.com/cc/4/93884.html to view Management's recent Webcast in its entirety.
Plans for $100 Million in Recurring Revenue Contracts
NewMarket's Bruce Noller was recently interviewed by Wall Street Reporter. In the interview, Mr. Noller discusses the plan to convert at least half of the Company's approximate $70 million in annual technical services revenue from project sales contracts into three-year contracts.
"The Company has a good reputation with customers and the repeat business to prove it," explains Mr. Noller. "Now we are going to turn those repeat customers into long-term customers. We started our campaign last year to turn recurring customers into recurring revenue. Our plan for 2008 is to convert half our tech services revenue into three-year contracts. Converting half of NewMarket's approximately $70 million in tech services revenue would result in $100 million in recurring revenue contracts."
To listen to the interview in its entirety, go to http://wallstreetreporter.com/page.php?page=featured&tab=2&id=27794.
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.
"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.
Tuesday, June 3, 2008
ComedyNet Converts to HD
Second Season of Club ComedyNet, the First Series Shot in HD Has a Message...
NEW YORK, NY--(MARKET WIRE)--Jun 3, 2008 -- As of this week, all-new programming for ComedyNet will be shot in full High Definition. This week, ComedyNet will resume its highly successful Club ComedyNet series. This stand-up comedy series utilizes several composite technologies allowing for ComedyNet's sponsor/advertisers to have their logos or messages embedded into the programming and also those messages can be animated or in motion.
"The idea is to allow for the content and its sponsor message to travel together wherever the programming is distributed, which includes all of ComedyNet's web syndication outlets as well as more than 16 million Free-On-Demand cable homes," said Jocelyn Bayle, head of affiliate sales for the network.
Technology upgrade and production coordination for ComedyNet is being handled by EZS Productions of New York City. "The conversion from Standard Definition to High Definition has been a steep learning curve for us. I am thrilled to have Ethan Sigman guiding us and building for us the tools to take us to the next plateau of broadcasting," said Mark Graff, CEO of ComedyNet.
Barely a year old, ComedyNet, which has quietly launched its ad supported free-on-demand programming to over 16 million cable homes, is in discussions with cable operators and satellite to home providers about the launching of ComedyNet as a fulltime HD channel and moving its on demand programming from Standard Definition to High Definition channel assignments.
Ethan Sigman has a wide and varied breadth of experience having worked with Mets, Yankees, Knicks, Mark Burnett and Donald Trump, his digital media company produces live events and content for all platforms from films, to TV and the Web. It is anticipated that Mr. Sigman will move his production operation into the ComedyNet studios.
ComedyNet had announced on April 10th that the Company had entered into a Letter of Intent to merge with Anywhere MD, Inc. (Other OTC:ANWM.PK - News) for the purpose of accelerating its business plan.
NEW YORK, NY--(MARKET WIRE)--Jun 3, 2008 -- As of this week, all-new programming for ComedyNet will be shot in full High Definition. This week, ComedyNet will resume its highly successful Club ComedyNet series. This stand-up comedy series utilizes several composite technologies allowing for ComedyNet's sponsor/advertisers to have their logos or messages embedded into the programming and also those messages can be animated or in motion.
"The idea is to allow for the content and its sponsor message to travel together wherever the programming is distributed, which includes all of ComedyNet's web syndication outlets as well as more than 16 million Free-On-Demand cable homes," said Jocelyn Bayle, head of affiliate sales for the network.
Technology upgrade and production coordination for ComedyNet is being handled by EZS Productions of New York City. "The conversion from Standard Definition to High Definition has been a steep learning curve for us. I am thrilled to have Ethan Sigman guiding us and building for us the tools to take us to the next plateau of broadcasting," said Mark Graff, CEO of ComedyNet.
Barely a year old, ComedyNet, which has quietly launched its ad supported free-on-demand programming to over 16 million cable homes, is in discussions with cable operators and satellite to home providers about the launching of ComedyNet as a fulltime HD channel and moving its on demand programming from Standard Definition to High Definition channel assignments.
Ethan Sigman has a wide and varied breadth of experience having worked with Mets, Yankees, Knicks, Mark Burnett and Donald Trump, his digital media company produces live events and content for all platforms from films, to TV and the Web. It is anticipated that Mr. Sigman will move his production operation into the ComedyNet studios.
ComedyNet had announced on April 10th that the Company had entered into a Letter of Intent to merge with Anywhere MD, Inc. (Other OTC:ANWM.PK - News) for the purpose of accelerating its business plan.
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