HUNTINGTON BEACH, Calif., Dec. 8, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that it's QSI division has executed Statements of Work for long term master service agreements with customers that are estimated to generate over $6.3 million in revenues over the next 3-5 years.
The clients Quintek will be servicing are multi-billion dollar corporations with national and international operations. Quintek will be providing a wide range of integrated services that are designed to decrease internal labor costs and inefficiencies while enhancing customer service and reporting requirements.
In less than seven months, the company has signed a number of strategic teaming agreements with vertical centric integrators and consultants specializing in financial, insurance and healthcare vertical markets.
Bob Brownell, President of Quintek stated, "This is the fastest start I have experienced for a new startup division. New clients have commented that their selection of QSI was primarily based on our professional knowledge of the business and quality of the technical response." He added, "It is clearly a testament to the handpicked team that has been assembled here and the quality of services we are delivering to the marketplace."
Robert Steele, CEO of Quintek commented, "The long term service agreements we are executing and the quality of our partners will be the driving force for the growth of this business." He added, "The increase in financial commitments from investors and customers is a testament of the rapid growth that is occurring within this company and the potential that exists in this industry."
About QSI
QSI delivers Business Process Outsourcing (BPO) services and Information Lifecycle Management (ILM) solutions to document intensive industries such as government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The solutions and services the Company provides enable organizations to secure and manage their information and document business processes more efficiently. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
More information is available at www.quintek.com
"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, 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.