NMKT up on NEWS adding to profitability with ORGANIC growth.
NewMarket Technology Inc. Announces VoIP Contract Valued Over $2 Million
Thursday May 11, 10:09 am ET
NewMarket's VoIP Company XIPTEL Communications Continues to Expand Client Base from 2003 Startup to Nearly $10 Million in Current Annualized Revenue
DALLAS--(BUSINESS WIRE)--May 11, 2006--NewMarket Technology Inc. (OTCBB:NMKT - News) today announced that its subsidiary, XIPTEL Communications Inc., has signed a new Voice over Internet Protocol (VoIP) contract with International Effectiveness Center (IEC). The contract represents a substantial increase in XIPTEL's overall service making IEC a significant client. IEC is located in San Francisco and for over 30 years has been providing language translation services to a wide range of commercial companies and government agencies. XIPTEL'S hosted VoIP telephone services provide the features and network for IEC's translation services via telephone.
"Telephone based language interpretation is a fast growing business opportunity, and we are fortunate to be working with the people at XIPTEL," said Taryk Rouchdy, IEC's CEO.
XIPTEL services will connect IEC's clients within seconds to skilled language interpreters for translation in over 160 different languages. Today XIPTEL connects clients such as the City of San Francisco, Wells Fargo Bank, John Muir Medical Center, Sutter Health, Contra Costa Health Services, and scores of other large organizations.
"We are very excited about the opportunities with IEC," said Peter Geddis, XIPTEL's CEO. "IEC, already with hundreds of clients, expects to grow to over 5,000 language interpreters and will be one of the leading companies providing telephone based translation throughout the US. Significantly, IEC is one of the first translation services to offer services outside the U.S."
XIPTEL anticipates the IEC contract to represent more than $2 million in revenue over the next three years.
XIPTEL and Corsa Networks are divisions of IP Global Voice, Inc., a subsidiary of NewMarket Technology Inc. XIPTEL provides a full range of hosted, managed VoIP services to the business market. Corsa Networks provides sophisticated network security solutions and managed services to commercial customers. Mr. Geddis is a 25 year telecommunications industry veteran. As COO of Qwest Communications, Mr. Geddis was instrumental in building a company from four employees and little revenue to over $400 million in revenue during his tenure. Mr. Geddis also held senior positions at Sprint, British Telecom and Pacific Bell.
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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 - News), Cisco Systems (Nasdaq:CSCO - News) and Sun Microsystems (Nasdaq:SUNW - News). 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.
This 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.
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