HUNTINGTON BEACH, Calif., Oct. 19, 2004 (PRIMEZONE) -- Quintek Services, Inc. (QSI) (OTCBB:QTEK), a wholly owned subsidiary of Quintek Technologies, Inc., announced today that it has recently expanded and extended the term of a $200,000 professional services contract with a nationwide provider of Health Information Management (HIM) consulting solutions and Medical Transcription Services.
QSI has been working with the HIM provider for the past several months, providing services at a major Southern California medical center which have resulted in improved quality processing for the client. Billings from this client have recently expanded by approximately 40%, which resulted in an extension to the term of the contract.
Bob Brownell, President of QSI stated, "As budgets are trimmed and cost cutting initiatives implemented within the healthcare market space, the demand for high-quality service providers continues to increase. QSI remains a leading supplier of experienced staffing for critical document management functions."
Quintek CEO Robert Steele commented, "Shareholders and investors should take note of this validation of the growing need for our outsourcing services in the healthcare industry." He added, "QSI will continue building a solid base of long-term contracts with recurring revenue from mortgage, healthcare and accounts payable outsourcing."
About QSI
QSI delivers Business Process Outsourcing (BPO) services and Information Lifecycle Management (ILM) solutions to document intensive industries such as government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The solutions and services the Company provides enable organizations to secure and manage their information and document business processes more efficiently. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
"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, 2004 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.