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Quintek Announces Revenues for the First Six Months of Fiscal Year 2006 Increase 181% over the First Six Months of Fiscal Year 2005 2/14/06
HUNTINGTON BEACH, Calif., Feb 14, 2006 /PRNewswire-FirstCall via COMTEX/ -- Quintek Technologies, Inc. (OTC Bulletin Board: QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services announced today that the company's revenues for the first six months of fiscal year 2006 increased from $436,679 in 2005 to a record $1,228,880 for the first six months of fiscal year 2006. Quintek maintains a June 30 fiscal year.
For the second quarter ending December 31, 2005 the company's revenues increased from $322,413 to $535,521 representing a 66% increase from the same quarter in 2004. The increase in revenues was due primarily to increasing sales in the BPO Services business.
Robert Steele, Quintek's CEO, stated, "Last year we posted a record year with revenues up 418% over the year before. This year, revenues continue to grow in excess of last year's record results." He added, "We continue to grow over last years results and penetrate our target markets by delivering quality services to our customers and forming strategic business partnerships to attain our sales goals. These basics have been and always will be keys to success."
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTC Bulletin Board: QTEK), through its wholly owned subsidiaries Quintek Services, Inc. (QSI), and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies 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 As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. 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.
Sapphire Consulting Services, Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
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, 2005 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, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
CONTACTS: Quintek Technologies, Inc. Andrew Haag Chief Financial Officer (714) 848-7741, Ext. 14 ahaag*quintek.com Communications: Cinapsys, Inc. Mark Moline (760) 458-4899 mark*cinapsys.com
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Company Notes: Formerly=Pacific Diagnostic Technologies, Inc. until 3-99
Class Notes: Issued=1-99 pursuant to Plan of Reorganization under Chapter XI of the Federal Bankruptcy Code. Basis: 1 sh Com (New) for every 25 shs Com (Old) held
Transfer Agent: Not Available
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