NewMarket Technology, Inc. (NMKT.OB) reports that its first independently listed subsidiary, NewMarket China, Inc. (NMCHE.OB) this week was rated by Beacon Equity Research as a “Speculative Buy” with a target price per share of $1.10.
In the fourth quarter of 2006, NewMarket Technology reorganized its previously existing Chinese business operation into the publicly listed NewMarket China. Recently, the company filed its first annual report following the reorganization, reporting $29.5 million in revenue with a profit for fiscal year 2006. NewMarket China has also set 2007 revenue goals of $40 million.
The NewMarket China research report can be found in its entirety at www.beaconequityresearch.com
In addition, the NewMarket Technology Research Report reflecting a Target Price of $0.88 and Rating of “Outperform” can also be found at beaconequityresearch.com.
The NewMarket report highlights the Company’s rapid growth to $77.6 million in revenues and $4 million in net income for 2006. NewMarket Technology has forecasted revenue for 2007 of $120 million.
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