NewMarket Technology (fka NWMT)

[intercepter72]

NMKT announces new contract 09.16.04 5:25 pm ET

Network solution company announces new contract 09.16.04
in Latin America
09.16.04, 5:25 PM ET

see yahoo news for NMKT for link to article
http://finance.yahoo.com/q?s=NMKT.OB

NewMarket Technology, Inc., (OTCBB:NMKT) announced a $4.3 million contract to implement a proprietary network solution in Latin America.

The proprietary secure network solution has been developed by an undisclosed United States technology company and will be implemented in Latin America by NewMarket Technology. The contract is scheduled for full delivery before the end of 2004 and accordingly, all revenue will be booked in the financial results for 2004.

NewMarket specializes in the market introduction of emerging technologies. In addition to selling its own proprietary Telecommunications, Healthcare and Security solutions, NewMarket also integrates and supports the complementary proprietary technologies of partner technology companies through the NewMarket Strategic Sourcing Service.

NewMarket has established Strategic Sourcing sales and service centers in both Latin America and the Pacific Rim in a strategy to accelerate emerging technology sales in rapidly growing economies that have less brand name competition usually still selling last generation technology solutions.

"A success in Latin America with this innovative, secure network solution will create an entirely new network solution market in North America," explained Philip Verges, CEO of NewMarket Technology. "Hence, the need for secrecy regarding the project at this time. This contract adds to our growing organic sales momentum and further validates the NewMarket business model and the Strategic Sourcing service offering."

In 2002, NewMarket launched a business plan to continuously introduce emerging communication technologies to market. The plan included a financing model for early technologies and an approach to creating economies of scale through a specialized service and support organization intended specifically for the emerging technology industry. The company posted six consecutive profitable quarters through 2003 and established an annualized $15 million in revenue.

In 2004, the company diversified its communications technology offering into the healthcare and homeland security industries with the respective acquisitions of Medical Office Software Inc. and Digital Computer Integration Corp. The company has expanded sales into Asia and Latin America through the acquisitions of Infotel Technologies in Singapore and RKM IT Solutions of Caracas, Venezuela. After the second quarter of 2004, NewMarket has booked over $10 million in revenue and achieved a revenue run rate of more than $40 million. This article was prepared by Biotech Business Week editors from staff and other reports. Copyright 2004, Biotech Business Week via NewsRx.com & NewsRx.net.

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