NewMarket China, Inc. Reports 36% Revenue Increase to $40 Million
in 2007 with 83% Net Income Growth in SEC Form 10-KSB Annual Report
Company to Conduct Earnings Webcast
Wednesday, April 9, 2008 at 5:00 PM EDT to Review Annual
Report DALLAS, TX –
April 1, 2008 – NewMarket China, Inc. (OTCBB: NMCH) announced
filing SEC Form 10-KSB to report on the Company’s 2007 business
operations and financial performance. The Company reported $40.0
million in revenue, increasing revenue by 36% over 2006. Net income
increased 83% from $542 thousand in 2006 to $991 thousand in 2007.
Financial Report Highlights Balance Sheet: · Cash position up 27% over
last year ($1.5m v. $1.2m) · Stockholder's equity up 55% from year-end
2006 ($2.6m v. $1.7m)
Statement of Operations: · Revenue for 2007 up 36% from 2006
($40.0m v. $29.5m) · Gross profit for 2007 up 41% from 2006 ($1.8m v.
$1.3m) · Net income (before currency translation) for 2007 up 83% from
2006 ($991k v. $542k) Cash Flow: · Cash flow from operations for 2007
was up 97% from 2006 ($840k v $427k) Earnings Webcast Scheduled for
April 9, 2008 at 5:00 PM EDT John T. Verges, CEO, and Philip J. Rauch,
CFO, will conduct an audio Webcast on Wednesday, April 9, 2008 at 5:00
p.m. EDT to discuss the Company's 2007 annual report. The call is
being Webcast by Vcall and can be accessed at
http://www.investorcalendar.com/IC/CEPage.asp?ID=127668. A
recording of the call will be available after April 9th for review for
at least thirty days. $50 Million 2008 Revenue Goal NewMarket China
recently announced a 2008 forecast anticipating twenty-five percent
growth to $50 million in profitable revenue. The anticipated revenue
increase is based on expected organic growth from current operations.
Management is considering acquisition opportunities as well as
investments to increase sales in North America, fulfilled from its
Chinese operations. Any potential revenue from prospective
acquisitions will be added to the 2008 forecast after any acquisition
is completed. Corporate Overview Now Available on Yahoo! Finance A
NewMarket China Corporate Overview Report is now available on Yahoo!
Finance. The report features NewMarket China's rapid growth in the
past three years in addition to an overview of the Company's services,
locations, subsidiaries, technology partners and management. To
request a copy of the report, please go to
http://finance.yahoo.com/q?s=nmch.ob and click "Download
Annual Report" under the company's stock chart. A copy of the report
is also available by contacting Investor Relations at
ir@newmarketchina.com.
Corporate E-mail Updates To be added to NewMarket China’s e-mail
database of shareholders and interested investors or to receive more
information on the Company please send an e-mail to
ir@newmarketchina.com.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly
developing Chinese market specializing today in software engineering,
high quality software development and digital multimedia outsourcing
services delivered to customers globally. At the same time, the firm
is a systems integrator and value added reseller of major global
hardware brands in the Chinese domestic market. Headquartered in
Dallas with operations in Shanghai and Beijing, NewMarket China
bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high
quality, low cost technology products and services available from
China. NewMarket China also assists Western clients in localizing
products and services to realize the tremendous growth potential
available by expanding into the Chinese Market
Company Information and 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 or its
Chinese subsidiary, please send an e-mail to
ir@newmarkettechnology.com.
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 over $50 million in profitable revenue in 2005. In 2006, the
company continued its rapid growth, reporting $77.6 million in revenue
with a net income of $5.8 million.
"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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