New Market China, Inc. is a technology leader in the rapidly developing Chinese market, specializing in software engineering, high-quality software development, and digital multimedia outsourcing services delivered to customers globally. Yesterday, the company announced that they have been named one of the Top 200 Public Companies in the Dallas-Fort Worth area by the Dallas Business Journal. This area is a Mecca for businesses, including the likes of ExxonMobil, Southwest Airlines and Texas Instruments. In addition to making the list, New Market China was featured as one of eleven newcomers to the annual list, along with Comerica, Metro PCS and Cinemark Holdings.
A large part in making this list was the company’s rapid growth over the past couple of years. The company proudly reported total revenues of $40 million for 2007, a drastic 36% increase from only $29.5 million the prior year. The company’s CEO, John T. Verges, and CFO, Philip J. Rauch, reported that gross profit margin for the company has risen to 41% this year, and net income has risen 83% from 2006 to $991,000. The company now has positive cash flows from operations, which translates to a 55% increase in stockholder’s equity from the end of 2006.
New Market expects a further increase in sales and has set a goal of $50 million in annual revenue for 2008 through mostly organic growth, but has not ruled out the possibility of possible mergers and acquisitions. Another way that New Market hopes to better itself as a company is by improving fundamental financials such as margins and costs. They have previously declared that the breakeven point for the company is $40 million in revenues, so they expect 2008 to be the first year of profitability for the company
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