NewMarket Technology, Inc. Signs Agreement to List $20 Million Latin America Operation Advancing Strategy to Issue Subsidiary Stock Dividends to Shareholders
Nov 30, 2006 12:53:06 (ET)
DALLAS, Nov 30, 2006 (BUSINESS WIRE) -- NewMarket Technology, Inc. (NMKT, Trade ) is executing on the next stage of its innovative strategy to maximize shareholder's return on investment. NewMarket Technology, Inc. and Paragon Financial Corporation (PGNF, Trade ) today announced entering into a letter of intent agreement to combine NewMarket's Latin America Operation into Paragon Financial Corporation. NewMarket currently has over $20 million in profitable annual revenue from its Latin America Operations. The transaction would result in NewMarket owning a majority stake in Paragon Financial (news - http://biz.yahoo.com/bw/061130/20061130005702.html?.v=1 ).
Independent Listing of Consolidated Subsidiaries and Shareholder Dividends
In 2002, management set out to incubate emerging technologies and distribute returns on the incubated technologies in the form of shareholder dividends. Since 2002, the Company has built revenue from less than $1 million to a projected $70 million in profitable revenue for fiscal year 2006. The Company currently has over $40 million in shareholder equity resulting primarily from the acquisition, organic growth and development of technology assets. Now management is aggressively listing regional subsidiaries and emerging technology subsidiaries in order to deliver on its plan to issue subsidiary stock in the form of shareholder dividends. NewMarket anticipates further announcements regarding the public listing of additional subsidiary operations in the imminent future. At the upcoming Town Hall Meeting scheduled for December 7th in New Orleans, management will provide more detail regarding the public listing of consolidated subsidiaries and the corresponding plan to distribute the publicly traded stock of these subsidiaries to shareholders in the form of dividends in the future.
NewMarket China and Intercell International Corporation (IICP, Trade )
NewMarket's Latin America operation would be the Company's second consolidated subsidiary to be independently listed supporting NewMarket's plan to issue publicly listed subsidiary stock to shareholders in dividend declarations. NewMarket recently listed its Chinese operating subsidiary with a revenue forecast of $40 million for fiscal year 2007 in a transaction with Intercell International Corporation (IICP, Trade ). Intercell is now an independently listed, consolidated subsidiary of NewMarket and is in the process of changing its name to NewMarket China.
Beacon Equity Research Values NewMarket at $0.78 PPS vs. Current $0.29
Beacon Equity Research just released an independent analyst report rating NewMarket as an "Outperform." Beacon calculated a conservative fair market value of $0.78 per share for NewMarket common stock compared to NewMarket's current $0.29 PPS. Beacon derived the fair market value utilizing both a discounted cash flow analysis, as well as discounted peer comparison. For a copy of the Beacon Equity Research report, e-mail ir@newmarkttechnology.com.
5th Fastest Growing Tech Company in North America on Deloitte Fast 500
NewMarket ranked Number 5 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.
NewMarket Town Hall Meeting
Shareholders and interested investors are encouraged to attend the NewMarket Technology Annual Town Hall December 7th in New Orleans to learn more about the Company's business plan, review 2006 performance and plans to continue rapid growth into next year with a forecasted $120 million in profitable annual revenue for 2007. For details on times, venue and discounted travel arrangements available to attendees please visit www.newmarkettechnology.com . If you have any further questions, or would like to RSVP to the NewMarket Technology Annual Town Hall please contact Whitney Marks at 214-722-3052 or wmarks@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 to include Microsoft (MSFT, Trade ), Cisco Systems (CSCO, Trade ), Hyperion Solutions (HYSL, Trade ), SAP (SAP, Trade ), Siebel (ORCL, Trade ) and Sun Microsystems (SUNW, Trade ). 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 delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends.
About Paragon Financial Corporation ( www.pgnf.com )
Financial Corporation has been a financial services business focused on the acquisition of companies that originate mortgages loans or provide other financial services. Subsequent to the recent sale of its Paragon Homefunding subsidiary, acting management is currently exploring a range of alternative business strategies to maximize shareholder value.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
"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.
SOURCE: NewMarket Technology, Inc.
NewMarket Technology, Inc.
Rick Lutz, Investor Relations, 404-261-1196
ir@newmarkettechnology.com
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