NewMarket Technology, Inc. Releases Webcast of Annual Town Hall Meeting Announcing $120 Million 2007 Revenue Forecast and First Quarter Dividend to Shareholders.
Company Business Plan Matures with Independent Public Listing of Consolidated Subsidiary Operations and Beginning of Dividend Distributions
DALLAS -- NewMarket Technology, Inc. (OTCBB:NMKT) today announced posting the webcast of its Annual Town Hall meeting held Thursday, December 7, in the City of New Orleans. The meeting included a detailed review of NewMarket's operations strategy, capital structure strategy and recent increase in subsidiary spin-off activity. In addition, the issue of dividends in subsidiary stock to NewMarket shareholders was announced. NewMarket operationally combines the sale of market accepted technologies such as those from Microsoft (Nasdaq:MSFT), Cisco Systems (Nasdaq:CSCO), SAP (NYSE:SAP), Siebel (Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW) with their own portfolio of complementary emerging technologies. Each emerging technology is structured into a subsidiary company. As each technology matures, the subsidiary is independently listed. NewMarket has already listed its operation in China (OTCBB:IICP) with $40 million forecasted in revenue for 2007. Recent Letter of Intent agreements have been signed with Paragon Financial Corporation (OTC:PGNF) which will hold NewMarket Latin America operations with revenue of $20 million, and Diamond I, Inc. (OTCBB:DMOIE), a wireless gaming and WiFi company. Management is focusing on completing these transactions in the next few weeks. All subsidiaries will be majority owned by NewMarket to continue consolidating the respective subsidiary's financials into the parent company's financials.
The webcast of the Town Hall meeting can be found at the company website (www.newmarkettechnology.com)
$120 Million Revenue Forecast and $200 Million M&A Pipeline
At the Town Hall meeting the previously released revenue forecast for a profitable $120 million in 2007 was reviewed in detail. A substantial portion of the organic revenue increase will come from the previously announced contract expansion of NewMarket's current systems integration operation in China. NewMarket will realize over $20 million in systems integration revenue from China in 2006. However, NewMarket recently entered into an agreement that will result in the systems integration business in China increasing by approximately 100% to an anticipated revenue amount of $40 million in 2007. The balance of the increase is conservatively estimated to come primarily from the expansion of existing systems integration contracts throughout NewMarket's overall existing customer base.
