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NewMarket Technology Inc. Announces $2.4 Million SAP Consulting Contract Supporting Venezuelan Oil Production; NewMarket Anticipates 500% Year-to-Year Organic Sales Growth in Latin America 10/21/05
DALLAS, Oct 21, 2005 (BUSINESS WIRE) -- NewMarket Technology Inc. (OTCBB:NMKT) today announced a $2.4 million contract to provide SAP (NYSE:SAP) manpower and consulting services supporting Venezuela's nationalized oil production. Under the contract, the Company will provide systems integration and software development services to support and enhance an existing SAP software installation and legacy applications.
NewMarket entered the Latin America Systems Integration market last year through the acquisition of RKM IT Solutions, the leading Microsoft (NYSE:MSFT) partner in Venezuela. RKM had historically booked flat annual sales of $2 million. NewMarket anticipates RKM revenue in 2005 to reach $10 million representing 500% year-to-year organic growth.
NewMarket was recently recognized in the Deloitte Fast 500 as the 13th fastest growing technology company in North America. NewMarket credits an innovative business model of introducing new technologies to market consistently and profitably for the company's 18,082% revenue growth from 2000-2004. In 2002, NewMarket introduced its Systems Innovation business model for getting technology innovation funded, developed and launched into the marketplace. The Company began with its existing Voice over Internet Protocol (VoIP) offering and has since expanded into other communication technologies that span the healthcare and homeland security markets. NewMarket continues to acquire systems integration firms in developing economic regions to support a rapid expansion of the overall Systems Innovation business model.
"NewMarket organic sales growth in Latin America has been impressive and we expect it to continue," said Henryk Dabrowski, President of NewMarket Latin America. "Latin America's, and particularly Venezuela's, cash reserves are increasing with oil prices at historic highs. Technology investment focused on enhancing future productivity and profitability is historically high on the list of capital expenditures when cash balances are healthy. Significantly for 2006, our overall presence in Latin America has expanded to a total of five countries offering additional growth opportunities."
About RKM IT Solutions (www.rkmve.com)
RKM IT Solutions is the consolidated operation of RKM Suministros C.A. based in Caracas, Venezuela and RKM USA Corp, Inc. in Miami, Florida. The company provides information technology services in vertical government, oil, financial and manufacturing markets in Venezuela and Latin America, as well as Telecommunications engineering and consulting. RKM Suministros, C.A. was founded in 1987, is a privately held company, and is backed and owned by NewMarket Technology, Inc. (OTCBB:NMKT).
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). At the same time, 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.
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.
SOURCE: NewMarket Technology, Inc.
-------------------- Life is like a roll of toilet paper. The closer it gets to the end, the faster it goes.
Darn. Did I do a newbie thing again (buying at the top)? Can someone tell me what the L2 stuff looks like right now? Did I make a stupid move here? Darn, I wish I had more money and brains.
-------------------- Life is like a roll of toilet paper. The closer it gets to the end, the faster it goes.
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