NMKT (.3561) Reports $7 Million in Revenue in First Quarter 2007
Market Wire "US Press Releases "
DALLAS, TX -- (MARKET WIRE) -- 05/23/07 -- NewMarket China, Inc. (OTCBB: NMCH) announced today filing its quarterly report for the first quarter of 2007 (SEC Form 10QSB). In the report, NewMarket China reported over $7 million in revenue. The quarterly report represents the first quarterly report since reorganizing the Chinese business operations of a previously existing Chinese business operation into the publicly listed NewMarket China, Inc. Prior to the reorganization, the Company was named Intercell International Corporation and had reported negligible business operations in 2005.
Last week, the company filed the 2006 annual report on SEC Form 10-KSB. The annual filing is also the first annual report following the reorganization. In 2006, NewMarket China reported $29.5 million in revenue with a profit. The net income amounted to $0.01 earnings per share representing net income of $130,000 with 24 million shares issued and outstanding.
CEO of NewMarket China, John Verges, stated, "I am very enthusiastic about releasing our first annual and quarterly reports reflecting the operations we have diligently worked to establish in China. We have been developing business in China for the past few years as a private wholly owned subsidiary of NewMarket Technology and last fall we reorganized our Chinese operations into an existing public entity that you now know as NewMarket China. We originally forecasted approximately $20 million in revenue for 2006 and are extremely pleased that actual performance exceeded our expectations. The opportunities in China are extensive and we look forward to continuing to grow our business and build upon the numerous business opportunities. We continue to maintain our revenue forecast of $40 million for 2007."
NewMarket China, Inc. and NewMarket Technology, Inc.
NewMarket China, Inc. is an independently listed subsidiary of NewMarket Technology, Inc. (OTCBB: NMKT). NewMarket 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.
To be added to NewMarket China's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarketchina.com.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a leader in the rapidly developing Chinese software engineering market providing high quality outsourcing services to global customers. In addition, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market. NewMarket China has established and continues to grow a highly capable network of Chinese IT Service partners providing domain expertise in telecommunications, multimedia, ERP and finance. Headquartered in Shanghai, NewMarket China bridges the gap between Western and Eastern business cultures to realize the advantages of the high quality, low cost technology products and services available in China. In doing so, the firm assists its clients in overcoming the challenge of taking a business global. NewMarket China comprehends the differences in business processes, communications and cultures between the United States and China, and provides its clients with an established partner who provides a winning environment for global relationships and transactions. While most firms see China as merely a cost saving alternative, NewMarket China recognizes that China represents a huge growth opportunity for its customers and supports them in localizing their products and services, and in identifying complementary revenue streams within the Chinese Market.
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, Cisco Systems, SAP, Siebel and Sun Microsystems. 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. NewMarket ranked Number Five 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.
"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 China'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.
Contact:
NewMarket China, Inc.
Rick Lutz
404-261-1196
Investor Relations
ir@newmarketchina.com
www.newmarketchina.com
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