CAMARILLO, Calif. September 2, 2003 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), the only manufacturer of a patented chemical-free desktop microfilm solution, announced that on August 26th, Document Management Solutions, Inc, (DMS), a service bureau located in Anderson IN, agreed to begin selling products under Quintek's new Dealer Sales Agreement, announced August 1, 2003.
DMS's client roster includes Sony, Ely Lilly and Banc One. DMS has recently increased their sales force by roughly 300% to accommodate increasing demand for the products they sell. DMS will begin selling Quintek's products immediately.
Tom Martin, CEO of DMS stated, "This unit is an amazing piece of hardware and an asset to any company that deals in aperture cards." Martin was formerly with Bell and Howell, Inc., a company specializing in microfilm products. In 2001 Eastman Kodak (NYSE:EK) completed an acquisition of substantially all of Bell and Howell's imaging business for $135 million.
Also on board under Quintek's new "Dealer Sales Agreement", is ImageMax, Inc. (OTCBB:IMAG). Located in Fort Washington PA, ImageMax has offices throughout the country. The Company has sold a number of products for Quintek in recent months.
ImageMax will be conducting an Open House event September 25th, the second such event this year, featuring Quintek's new Q4400 aperture card printing system. Quintek will release a press announcement providing more detail shortly.
ImageMax and DMS together generate annual revenues of over $40 million dollars per year through their respective businesses.
Robert Steele, Chairman and CEO of Quintek stated, "We look forward to continuing our support of ImageMax, including their open house events, and our entire dealer network in their efforts to increase corporate exposure and grow sales." He added, "Now that we have created the footprint of how Quintek plans to grow, we will continue to sign new dealers, and make every effort to contribute to their success."
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 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.