HUNTINGTON BEACH, Calif., April 13, 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 yesterday that it has expanded the scope of outsourcing services it is providing to a major national mortgage customer.
The customer, a national provider of consumer loans with annual revenues in excess of $20 billion per year, signed a five year services agreement with Quintek in July of 2004. Quintek began billable work under this agreement in September of 2004.
The customer recently requested that Quintek move to and advanced phase of the services agreement. This advanced phase calls for an increased scope of work, representing larger volumes with additional responsibilities. This expansion should increase the company's monthly billings with the customer positively impacting Quintek's revenues for the near and long term.
Quintek has estimated that the initial Statement of Work (SOW) under this agreement will produce in excess of $5 million in revenues over the term of the agreement. Quintek expects to further increase billings with this customer and looks to expand the relationship. Quintek has identified an additional $10 million in potential business from this customer. Quintek is working closely with the customer to assure project satisfaction and customer confidence to move this business forward.
Robert Steele, Quintek CEO stated, "We are pleased that we are receiving a greater volume of work." Mr. Steele further commented, "at this stage, our focus is on delivering the best possible customer service." He ended saying that "we look forward to a long and prosperous relationship."
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 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 As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO computer applications and Information Lifecycle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. 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.