HUNTINGTON BEACH, Calif., April 11, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a provider of 21st-century Business Process Outsourcing (BPO) and document-management services that raise efficiency and lower costs for data-intensive industries, announced today that it has expanded the scope of services it is providing for a major national mortgage account.
Earlier last year, Quintek signed a 5-year services agreement with the customer, a national provider of consumer loans with annual revenues in excess of $20 billion per year.
In September, Quintek began billable work for the customer, which recently called for the increased scope of work. Under the agreement, Quintek will handle larger volumes and increased responsibilities. Quintek expects to further increase billings with this customer and is actively working to continue expanding the relationship on a forward-going basis.
Robert Steele, Quintek CEO, commented, "We are pleased with the confidence our customers are placing in QSI, which is evidenced by the expansion of important existing relationships with leading organizations in many industries." He added, "As we continue to market QSI's services to new clients we will simultaneously look for opportunities to add value to existing relationships and expand upon our presence within our client's workflow processes."
Due to competitive reasons and contractual obligations Quintek is not permitted to publicly disclose the customer's name.
About Quintek Technologies, Inc.
Quintek Technologies, through its wholly owned subsidiary Quintek Services, Inc. (QSI), delivers 21st-century 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 As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO computer applications and Information Lifecycle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. For more information, visit http://www.quintek.com For more investor-specific information, including daily and historical Company stock quote data and recent news releases, please visit http://www.trilogy-capital.com/tcp/quintek To read or download the Company's Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/quintek/factsheet.html
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.