CAMARILLO, Calif., April 1, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) filed an 8k with the Securities and Exchange Commission yesterday disclosing the text of a letter to its shareholders in which the Company discussed its plans to enter the Business Process Outsourcing (BPO) market.
In the letter, the Company highlighted its previously disclosed achievements to date in 2004, including:
-- The announced expansion into the service industry;
-- The strategy to develop a complete information lifecycle
management (ILM) solution for cradle-to-grave document storage;
-- The appointment of a new President with considerable industry and
sales experience to help further impact the successful growth and
expansion of the Company.
Quintek also disclosed that it has formed a new division, Quintek Services, Inc. (QSI). The formation of QSI is complementary with Quintek's alignment of the Company as a 'Business Process Outsourcing' (BPO) services provider. Forrester Research has estimated that the BPO space will grow to $146 billion by the year 2008. Quintek also referenced that over a 24-month period they intend to add up to an additional 35 new sales people and increase the scope of the Company's offerings.
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 $24 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 Under the Private Securities Litigation Reform Act of 1995
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, 2002 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.