NMKT - off on news:
NewMarket Technology Inc. Reports Record Net Income of $2.9 Million for 2005 on 101% Increase in Revenue to $50.1 Million; 2005 Earnings Per Share Increased 300% and Stockholder's Equity Increased 96% over 2004
11:05 AM EST March 31, 2006
NewMarket Technology, Inc. (OTCBB:NMKT) today released its 2005 Annual Report on SEC Form 10KSB. The Company posted revenue of $50.1 million in 2005, representing an increase in revenue of 101% over 2004. After allowing for foreign currency adjustments, net income for 2005 was $2.6 million.
Financial Performance Highlights
Operations:
-- Revenue for 2005 increased 101% from 2004 ($50.1m v. $24.98m)
-- Gross profit for 2005 increased 61% from 2004 ($18.6m v. $11.5m)
-- Operating expense percentage decreased (31% of sales in 2005 v. 45% of sales in 2004)
-- Net income before currency translation for 2005 increased 1,788% from 2004 ($2.97m v. $154k)
-- Earnings per share-basic for 2005 was $.028 v .007 for 2004 (300% increase)
-- Earning per share-diluted for 2005 was $.015 v $.004 for 2004 (275% increase)
Balance sheet:
-- Cash position increased 12% over previous quarter ($3.1m v. $2.9m)
-- Account Receivables decreased 25% from previous quarter ($15.1m v. $20.1m)
-- Working capital increased 180% from year-end 2004 ($6.1m v. $2.2m)
-- Stockholder's equity increased 96% from year-end 2004 ($32.8m v. $16.7m)
Cash Flow:
-- Cash flow from operations for 2005 increased 509% from 2004 ($1.6m v $268k)
Mr. Philip Verges, Chief Executive Officer, and Mr. Philip J. Rauch, Chief Financial Officer, will conduct a conference call on Thursday, April 6, 2006, at 4:05 EDT to review the 2005 Annual Report and address pre-submitted shareholder inquiries. In the interest of maximizing the value of this conference call for all participants, please submit questions by Wednesday, April 5 to Investor Relations at LCGroup@mindspring.com. The dial-in number for the April 6 conference call is 605-772-3200 with access code 784316#. For those that are not able to participate an audio recording of the conference call will be posted on the NewMarket Technology website by Wednesday, April 12, 2006.
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 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. The financial results achieved have been three years of rapid, profitable growth from $2.3 million in revenue in 2003 to over $50 million in 2005.
his 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.
SOURCE: NewMarket Technology, Inc.
NewMarket Technology, Inc., Dallas Rick Lutz, 404-261-1196 ir@newmarkettechnology.com www.newmarkettechnology.com
