NewMarket Technology, Inc. 2nd Qtr. Sales Increase in South America With NewMarket Latin America, Inc. Subsidiary Signing $3 Million in New Contracts
Friday June 15, 9:42 am ET
Strong South American Sales Support NewMarket 2007 $30 Million Profitable Revenue Forecast in Region and Company-Wide $120 Million Profitable Revenue Forecast
DALLAS, TX--(MARKET WIRE)--Jun 15, 2007 -- NewMarket Technology, Inc. (OTC BB:NMKT.OB - News) today announced increased sales in South America. The Company's South American subsidiary, NewMarket Latin America, Inc. (Other OTC:NLAI.PK - News), recently signed $3 million in new contracts in the second quarter, with all revenue from the contracts to be realized in the 2007 fiscal year. The four new contracts are in Brazil and Chile focused on Telecom, Mining, Petroleum and Retail industries.
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"We have implemented an aggressive sales program for 2007 and are pleased with the recent results," said Aubrey Brown, CEO of NewMarket Latin America, Inc. "We expect continued revenue growth in the second half of the year. The fourth quarter of the year is traditionally our best quarter. Our second quarter sales are consistent with our $30 million profitable revenue objective for 2007."
NewMarket Technology, Inc. has reported rapid revenue growth since 2002. The Company has grown from $1 million in revenue in 2002 to $77.6 million in revenue with over $5 million in net income in 2006. NewMarket expects to reach $120 million in profitable revenue in 2007.
