HUNTINGTON BEACH, Calif., Jan. 11, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that the company should exhibit strong growth in fiscal year 2005 and throughout the calendar year. The company's fiscal year ends on June 30 and the anticipated growth should be evidenced in the company's quarterly filings. For fiscal year end 2005, the company is currently projecting an increase of 229% over fiscal 2004.
The increase in business activity is being generated by Quintek's QSI division. Last Spring, Quintek shifted its focus to BPO services, a multi-billion dollar industry that involves corporate tasks ranging from mailroom management to document scanning. BPO services allow corporations to save billions of dollars a year by outsourcing non-critical business processes. QSI plans to become an industry leader.
The team Quintek has brought on to grow QSI has decades of industry experience. The relationships this team has brought to the table have already resulted in several business development arrangements and multi-year service agreements with customers. Some of those are as follows:
-- Apr 26, 2004-QSI Signs Agreement with Leading Provider of
Mortgage Solutions
-- May 4, 2004-QSI Signs Agreement with Leading Provider of On-line
Document Archiving
-- May 11, 2004-QSI Forms Strategic Partnership With Hyland
Software, Inc., the Developer of OnBase(R) Enterprise Content
Management
(ECM) Software
-- Jun 1, 2004-FedEx Kinko's Selects Quintek Services, Inc. (QSI) as
Western Region Document Scanning Partner of Choice
-- Jul 22, 2004-QSI Signs Agreement with GCAP Services
-- Aug 24, 2004-QSI Signs Agreement with HIPAA-Compliant Healthcare
-- Solutions Provider RecordSourceMD
-- Oct 1, 2004-QSI and Equinox to Provide U.S. and Indian Based
Business Process Outsourcing Solutions to Mortgage Industry
Bob Brownell, President of Quintek, and the individual responsible for expanding QSI and developing the BPO business stated, "This has been one of the fastest starts I have experienced in this industry. The need for back-office outsourcing activities within the business community continues to explode and QSI is well positioned to capitalize as a strategic service provider."
Robert Steele, CEO of Quintek commented, "This is only the beginning. Our goal is to deliver consistent quarter on quarter revenue growth."
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.
More information is available at www.quintek.com
"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.