CORRECTING and REPLACING NewMarket Technology Inc. Releases Update on Progress to Date Toward 2006 Plan For $58 Million In Profi
February 07 2006 - 11:45AM
Business Wire
Please replace the release with the following corrected version due
to multiple revisions. The corrected release reads: NEWMARKET
TECHNOLOGY INC. RELEASES UPDATE ON PROGRESS TO DATE TOWARD 2006
PLAN FOR $58 MILLION IN PROFITABLE REVENUE AND OUTLINES POTENTIAL
FOR 75% UPWARD REVISION IN REVENUE FORECAST; UPDATE INCLUDES Q106
ANTICIPATED BENCHMARK EVENTS NewMarket Technology Inc. (OTCBB:NMKT)
today released an update on progress to date toward its business
plan in 2006. The Company has forecasted 15% annual revenue growth
in 2006 to a profitable $57.5 million over last year's profitable
$50 million (unaudited). Recently the Company released specific
business plans for each of its six operating business units. The
$87.5 million sum of the fully consolidated business unit revenue
goals for 2006 represents more than a 75% increase over NewMarket's
2005 revenue. The business unit goals are based on corporate
developments not yet consummated. At the close of each fiscal
quarter the annual forecast will be reviewed and updated as
required. -0- *T Business Unit Revenue Goal
-------------------------------------------------- Latin America
$25,000,000 China $28,000,000 Systems Integration $12,500,000 VoIP
$15,000,000 Healthcare $ 7,000,000
-------------------------------------------------- Upward Revision
Potential $87,500,000 *T In addition, the unconsolidated Homeland
Security revenue forecast for 2006 is estimated at $10 million and
is reported in NewMarket's affiliate company, Defense Technology
Systems (OTC:DFTS). Business Unit goals include the previously
announced planned acquisition of UniOne in Sao Paulo, Brazil, with
approximately $11 million in profitable annual sales. This
acquisition constitutes a substantial portion of the Latin American
$25 million 2006 revenue goal. The acquisition is expected to close
in the very near future. Both the buyers and sellers are
enthusiastic and working diligently to complete the transaction.
The completion of this transaction is a likely candidate event that
would trigger an upward revision of NewMarket's overall 2006
forecast after the close of Q1 '06 and the filing of the quarterly
report. "NewMarket has grown substantially from $2.3 million in
revenue in 2003 to over $50 million in 2005," said Philip Verges,
CEO of NewMarket Technology Inc. "We anticipate continued rapid
growth in both revenue and income. Our new approach in 2006 is to
communicate a balance between potential and prudence to provide
shareholders with a reasonable forecast, while at the same time
providing detailed information behind the Company's plan to exceed
that forecast. We know our key to achieving continued growth lies
in the successful expansion of our management team and the
reinforcement of our operational processes and procedures. We have
already announced the addition of Mr. Rauch as our CFO and
shareholders can expect additional management and director
announcements to be shortly forthcoming. Nearly halfway through the
first quarter of the year, I am optimistic we will exceed the 15%
growth forecast for 2006 over 2005." NewMarket combines a
traditional technology services offering with an emerging
technology incubation business function. The result has been three
years of rapid, profitable growth from $2.3 million in revenue in
2003 to over $50 million in 2005 (unaudited). NewMarket was named
in 2005 as the 13th fastest growing technology firm in North
America on the Deloitte Technology Fast 500. About NewMarket
Technology Inc. (www.newmarkettechnology.com) NewMarket Technology
Inc. is a Systems Innovation Company. NewMarket has combined a
traditional systems integration and support services capacity with
a specialized asset-based approach to assisting its clients with
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 to include
Microsoft (Nasdaq:MSFT), Cisco Systems (Nasdaq:CSCO) and Sun
Microsystems (Nasdaq:SUNW). Concurrently, NewMarket continuously
seeks to acquire undiscovered emerging technology assets to
incorporate into an overall product portfolio carefully packaged to
complement the prevailing industry standard solutions. NewMarket's
emerging technology portfolio includes products for the
Telecommunications, Healthcare, Homeland Security and Financial
Services industries. NewMarket delivers its portfolio of products
and services through its global network of Solution Integration
subsidiaries in North America, Latin America, China and Singapore.
As a Systems Innovator, NewMarket has set itself apart from the
systems integration market through the introduction of a technology
business model that monetizes the value of emerging technologies to
improve corporate profits and enhance shareholder value with the
regular issue of dividends. NewMarket recently announced that it
ranked Number 13 on the 2005 Deloitte Technology Fast 500, a
ranking of the 500 fastest growing technology companies in North
America. Rankings are based on the percentage of revenue growth
over five years from 2000-2004. NewMarket's revenue increased
18,082 percent during this period. This press release contains
statements (such as projections regarding future performance) that
are forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and
uncertainties, including but not limited to those detailed from
time to time in the Company's filings with the Securities and
Exchange Commission.
Defense Technology Systems (CE) (USOTC:DFTS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Defense Technology Systems (CE) (USOTC:DFTS)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Defense Technology Systems Inc (CE) (OTCMarkets): 0 recent articles
More NewMarket Technology Inc. News Articles