CAMARILLO, Calif., Feb. 17, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) is pleased to announce that Investor's Business Daily (IBD), a leading financial daily, has reprinted the Company's February 10, 2004 press release discussing Quintek's recently disclosed Information Lifecycle Management (ILM) solution strategy.
The article can be seen on the Investors.com website at: http://www.investors.com/newswire/nw94.asp and also in the Investors NewsWire section of the February 17th, 18th and 20th editions.
Andrew Haag, Quintek CFO, commented, "We were very pleased that IBD contacted us in regard to our recently disclosed ILM strategy." He added, "IBD is one of the leading investor centric financial publications. Being picked up on their radar screen shows that our message is being received by the media, and therefore, should also begin to be realized by the investment community."
Management of Quintek Technologies, Inc. recently disclosed that the Company has developed a strategic plan to position Quintek as a mass storage vendor with a true archival solution. The Company's goal is to provide complete mass storage solutions for customers. By integrating digital mass storage products with Quintek's patented Chemical Free Microfilm (CFM) technology the Company believes that it can advance film-based imaging into a modern IT solution. Quintek plans to develop new hardware products covering all formats of microfilm. Quintek will also look to develop new software to extended features and applications for the workplace and develop connectors to most major document management software products used in the workplace.
About Quintek
Quintek is the only manufacturer of a chemical-free desktop microfilm solution. The company currently sells hardware, software and services for printing large format drawings such as blueprints and CAD files (Computer Aided Design), directly to microfilm. Quintek does business in the content and document management services market, forecast by IDC Research to grow to $2.4 billion by 2006 at a combined annual growth rate of 44%. Quintek targets the aerospace, defense and AEC (Architecture, Engineering and Construction) industries.
Quintek's printers are patented, modern, chemical-free, desktop-sized units with an average sale price of over $65,000. Competitive products for direct output of computer files to microfilm are more expensive, large, specialized devices that require constant replenishment and disposal of hazardous chemicals.
"Safe-Harbor" Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2003 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.