CAMARILLO, Calif., Nov. 20, 2003 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that it is developing a new product based on its core technology. Discussions have already begun on the production of a 35mm desktop product based on Quintek's patented CFM (Chemical-Free Microfilm) technology.
Over the past few months Quintek has conducted informal marketing research with dealers and customers. Many of the Company's assumptions were reaffirmed at the Service Company Executive Forum held in San Francisco from the 7th-8th of February. At this forum Quintek was able to discuss the benefits of this product with a number of potential customers and Partners.
Robert Steele, President and CEO commented, "Over the past few months many of our dealers have expressed that the market for a chemical-free roll film printer is at least 10 times the size of our existing market." He added, "This product will be a direct response to feedback from our customers and our dealers and we plan to work closely with them to rapidly deliver a product that will meet their needs."
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.