HUNTINGTON BEACH, Calif., April 7, 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, has announced finalization of contracts totaling $350,000 to provide BPO services for two leading healthcare industry document imaging contractors. Robert Steele, CEO of Quintek, made the announcement.
The contracts call for Quintek to provide a range of high volume document-management services for the document-intensive health care industry. One contract calls for Quintek to provide its outsourced document imaging services for a leading provider of practice enhancement and process reengineering solutions for physician groups. This new client provides these services to over 1,200 clinicians, currently servicing 3.2 million patients. Quintek estimates revenues from this contract at $250,000 over the next twelve months.
Quintek has also signed a contract to provide outsourced document imaging services to an established liability protection provider with thousands of member physicians. This new client provides medical malpractice coverage and professional liability insurance for physicians. The first phase of this contract should result in $100,000 in business in the current quarter -- Q4 of fiscal year 2005 for the Company.
"These new contracts are a direct result of Quintek's business strategy to achieve growth through partnerships with customers in a variety of industries and that require a variety of operational scales," said Mr. Steele. "Because Quintek has perfected the ability to effectively and efficiently scale our services for nearly any size application, we are able to capitalize on significant amounts of business that can not be efficiently handled by other BPO providers." Mr. Steele added, "The healthcare sector has strict regulations and guidelines, providing an excellent opportunity for marketing Quintek's services." He ended, "We expect the increasingly complex regulatory environment due to HIPAA (Health Insurance Portability and Accountability Act) to provide a healthy backdrop for Quintek's planned revenue growth."
Due to competitive reasons and contractual obligations Quintek is not permitted to publicly disclose names of the customers involved.
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.