|By Marketwire .||
|July 3, 2007 04:04 PM EDT||
DALLAS, TX -- (MARKET WIRE) -- 07/03/07 -- NewMarket Technology, Inc. (OTCBB: NMKT) today announced plans to combine its existing Wireless Broadband and Voice over Internet Protocol (VoIP) operations. The Company has recently beta tested delivery of Wireless Broadband to globally developing economic regions which represents a substantial market opportunity. NewMarket currently reports approximately $20 million in annual sales from South America and another $30 million in revenue from Asia generated from other technology products and services. In a marketing initiative launched in late 2006, NewMarket has tested the viability of a municipal wireless broadband solution that can deliver VoIP to municipal residents in addition to providing the city with water and electric distribution management.
"Per capita communication and per capita income are linked," noted Philip Verges, CEO of NewMarket Technology, Inc. "As one might expect, per capita communication is low in developing economic regions. Likewise, the distribution of basic water and electric services is also challenging in developing economic regions. Wireless broadband is an affordable solution for both resident communication services and the management of basic water and electric services."
NewMarket delivers municipal broadband solutions in North America today in addition to delivering VoIP services which include delivering VoIP over a wireless broadband network. NewMarket currently delivers these services through two separate operating subsidiaries, RedMoon, Inc. (RedMoon Broadband) and IP Global Voice, Inc. The two subsidiaries are expected to generate over $20 million in profitable annual revenue. Independently, NewMarket's VoIP operation generated approximately $10 million in revenue in 2006. NewMarket has previously forecasted $10 million in annual sales from its wireless broadband operations.
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About RedMoon Broadband (www.redmoonbroadband.com)
NewMarket's Texas-based subsidiary, RedMoon Broadband, is a leader in municipal Wi-Fi and has designed, engineered and deployed wireless mesh network solutions providing high-speed Internet service, security surveillance, automatic water meter reading and mobile broadband for municipalities, including Addison, Texas, home to major corporations such as Mary Kay, Pizza Hut and Palm Harbor Homes.
Additionally, RedMoon and Chevron Energy Solutions, a business unit of Chevron Corporation, deliver service through the companies' SkyPilot mesh network to the 10-square-mile City of Burleson, Texas, supplying an automatic water metering program to more efficiently track consumption, curb water loss and increase revenues. Automatic Meter Reading (AMR) technology will enable Burleson to reduce meter-reading costs, improve the accuracy of readings, support water conservation efforts and raise the level of customer service.
About IP Global Voice, Inc. (www.ip-gv.com)
NewMarket's VoIP subsidiary, IP Global Voice, continues to expand its business service and product offerings to offer a full range of managed IT services for small, medium and large commercial customers. IPGV, with operating divisions Corsa Network Technologies and XIPTEL Communications, offers full end-to-end IP-based solutions for business customers, including hosted and premise-based VoIP telephone systems, IP PBX hardware and managed systems solutions, high-end network security technologies, and other cutting edge network and productivity enhancement products. IP Global Voice, Inc. offers dozens of other products and services for every business need having partnerships with high profile companies such as Digium/Asterisk, 3Com, Riverbed, Juniper Networks, Ae6, Bradford Networks, Mirapoint, Tipping Point, and others.
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 such as Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire 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 independently listing consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends. Currently, NewMarket Technology is the parent company to two publicly listed regional subsidiaries, NewMarket Latin America, Inc. (PINKSHEETS: NLAI) and NewMarket China, Inc. (OTCBB: NMCH).
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. In 2006, the company continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million.
"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'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.
NewMarket Technology, Inc.