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NewMarket Technology, Inc. Featured in Top
Three Chinese Newspaper During Conference Near Hong Kong
Sep 22, 2008
CEO Discussion on Potential Share Price
Uplift Due to SEC Short Selling Ban in Webcast Available Online
NewMarket Technology, Inc. (OTCBB: NMKTE)
management recently participated in the "Summit on the Industrial
Transformation of Zhu Jian Delta" conference near Hong Kong. The
conference provided the Company's Chinese operations an opportunity
to reach hundreds of companies in China at once as part of those
operations' ongoing initiative to expand both its service offerings
and its operations throughout China and to evaluate potential M&A
candidates. In conjunction with the conference, NewMarket Technology
was featured in the Southern Metropolis Daily, one of the top three
daily newspapers in China.
NewMarket's operations in China provide hardware and software
services in mainland China. For the first half of 2008, NewMarket's
Chinese operations have reported $19.2 million in revenue YTD,
supporting the Company's global goal of $120 million in profitable
revenue for 2008. In 2007, NewMarket reported $93.1 million in
revenue with $7.3 million in net income across all its operations.
Webcast Discussing Potential Share Price Uplift due to Friday's SEC
Short Selling Ban
Management conducted a Webcast Friday, September 19, discussing the
Company's Chinese operations' year-to-date progress. During the
Webcast, Mr. Verges discussed the potential share price uplift due
to the SEC short selling ban announced Friday. Mr. Verges is
traveling in Asia at this time with senior management from the
Company's operations headquartered in China. The Webcast was
conducted from Singapore.
A link to the Webcast is available at www.chinacrescent.com, titled
"China Crescent Enterprises Year-to-Date Corporate Update Webcast."
The discussion of the SEC short selling ban was added to a
previously scheduled Webcast to review year-to-date progress in
China.
Micros Report Update Highlights Price to Book Ratio of only $0.29
Underscoring the Company's Undervalued Nature and Sets Fair Value
Target Price of $0.78.
Michael Willingham, Micros Report Director of Research, recently
issued an update to his November 2007 research coverage on
NewMarket.
Mr. Willingham stated in his recent update, "If the market wakes up
to the true value being built in this Company, there will be a
significant reversal of fortunes in the share price."
The update emphasizes the Company's book value of $62 million
compared to its current market capitalization of only $18 million.
NewMarket's fully diluted book value is $0.25 per share and its
undiluted book value per share is $0.30, compared to a recent close
of merely $0.085 per share. "The Company's Price-to-Book ratio has
become so low, that the discount in the Company's share price seems
glaring... It is important to point out that NMKTE currently trades
well below its book value. Established firms practically never trade
below their intrinsic value. This fact alone should see NMKTE above
$0.295 a share which would be exactly 1x book value," Mr. Willingham
stated in his update.
The report goes on to assign a Fair Value Target price for NewMarket
stock of $0.78 per share: "This $0.78 fair value estimate is
assigned based upon what NMKTE has already achieved as a company in
regards to their historical profitability, historical revenue, and
future projections. Based upon the past five years' results, the
future growth of the company has a high probability of continuing.
If the company can continue to grow revenue and profits both
organically and through acquisitions while keeping the outstanding
shares in check, even higher stock prices should be expected in the
future."
Interested parties may contact ir@newmarkettechnology.com to receive
a copy of the report.
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.
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