HUNTINGTON BEACH, Calif., Feb. 15, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a provider of 21st-century business process and document-management services that raise efficiency and lower costs for data-intensive industries, announced today that revenues for the quarter ended Dec. 31, 2004, rose to $322,000, representing an increase of 314% over the same quarter of 2003.
The growth is the result of the company's recent sales of business process outsourcing (BPO) services and electronic document management integration projects. According to management, "The revenue numbers are beginning to reflect billings for a number of newly signed major contracts."
Robert Steele, CEO of Quintek commented, "Going forward, we forecast sustained quarter-on-quarter growth. This growth demonstrates that Quintek has the experience, professional skill-sets and marketing capabilities to acquire new contracts and efficiently provide a range of unique and valuable services to Fortune 1000 customers, and to expand within these accounts." He added, "We are currently servicing and billing customers in a range of industries nationwide, all in a profitable and mutually beneficial manner. We plan to ramp up to a substantial national sales presence by the fourth quarter of calendar year 2005."
Sales for the quarter ending December 31, 2004, represent a 180% increase over revenues for the previous quarter, ending Sept. 30, 2004, of $114,266. Sales were $66,453 for the quarter ended June 30, 2004 and $46,775 for the quarter ended March 31, 2004.
About Quintek Technologies Inc.
Quintek Technologies, through its wholly-owned subsidiary Quintek Services, Inc. (QSI), delivers 21st -century Business Process Outsourcing (BPO) services and solutions that enable organizations of any size to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO computer applications and Information Lifecycle Management (ILM). Quintek provides a range of mission-critical information and document-management solutions to organizations in document-intensive industries, including government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The Company has built steady growth on a strategy of providing superior services and solutions, and continues to exploit the steadily increasing growth in BPO and ILM marketplaces; the Aberdeen Group, a provider of IT market intelligence, forecasts 13% annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
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, 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.