posted
Quintek Posts Record Corporate Revenues for the First Nine Months of Fiscal Year 2006; Revenues Increase of 105% over Same Period in 2005
Business Wire via COMTEX
May 22, 2006 4:54:01 PM
HUNTINGTON BEACH, Calif., May 22, 2006 (BUSINESS WIRE) --
Quintek Technologies Inc. (OTCBB: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 nine months of fiscal year 2006 increased 105%. Revenues for the nine months grew from $844,726 in 2005 to a record $1,728,759. During the same period, net cash used in operating activities dropped 45% from $1,127,413 to $620,015 representing a decline of $507,398. Quintek reports on a June 30 fiscal year.
Additionally, for the third quarter ending March 31, 2006, the company's revenues increased from $408,047 to $499,879. This represents a 23% increase from the same quarter in the prior year.
Robert Steele, Quintek's CEO, stated, "The revenues for the past nine months represent another record for Quintek." He added: "More important is the reduction in net cash used in operating activities. Our revenues continue to grow to record results as we reduce operating costs." He ended, "Achieving growth and reducing operating cost continues to be a focus."
About Quintek Technologies Inc.
Quintek Technologies Inc. (OTCBB: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 As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO.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.
SOURCE: Quintek Technologies Inc.
Quintek Technologies Inc. Andrew Haag, 714-848-7741, ext. 14 ahaag*quintek.com or Cinapsys Inc. Mark Moline, 760-458-4899 mark*cinapsys.com
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Management Effectiveness Return on Assets (ttm): -22.59% Return on Equity (ttm): N/A
Income Statement Revenue (ttm): 2.34M Revenue Per Share (ttm): 0.023 Qtrly Revenue Growth (yoy): 66.10% Gross Profit (ttm): 477.92K EBITDA (ttm): -238.80K Net Income Avl to Common (ttm): -3.15M Diluted EPS (ttm): -0.03 Qtrly Earnings Growth (yoy): N/A
Balance Sheet Total Cash (mrq): 46.64K Total Cash Per Share (mrq): 0 Total Debt (mrq): 1.19M Total Debt/Equity (mrq): N/A Current Ratio (mrq): 0.226 Book Value Per Share (mrq): -0.016
Share Statistics Average Volume (3 month)3: 317,165 Average Volume (10 day)3: 495,900 Shares Outstanding: 134.83M Float: 116.51M % Held by Insiders4: N/A % Held by Institutions4: N/A Shares Short 3: N/A Short Ratio 3: N/A Short % of Float 3: N/A Shares Short (prior month)3: N/A
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Should be a mover off this news . This time last year was over .15 and the revenue is up 105% from this time last year. The operating activities spending is down 45% from last year also.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Thanks Duke hopefully this will move I must be in a slump got bumped down to a 3 star rating
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
This one looked gr8 till i saw that May 5, 2006 and lots of times b4.. Insiders were selling as per Yahoo "Profile" on the company no inside buyers at all?
Posts: 1101 | From: Georgia | Registered: Apr 2006
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posted
I think it will bounce up... but may have to get in and out... Daytrade This One!
Posts: 1101 | From: Georgia | Registered: Apr 2006
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posted
3 months ago we were trading at .09, if people like the new, I think it can get back there by the eow.
Posts: 94 | From: Wisconsin, USA | Registered: Feb 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Quintek Technologies, Inc. (QTEK) Announces That SqueezeTrigger Price is $0.10; Approximately 8.4 million Shares Shorted Since January 2005 According to ********** Research Report May 24, 2006 11:29:00 AM Copyright Business Wire 2006 HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--May 24, 2006--
www.********** is initiating coverage of Quintek Technologies, Inc. (OTCBB:QTEK) after releasing the latest short sale data to May 2006. From January 2005 to May 2006 approximately 108.5 million total aggregate shares of QTEK have traded for a total dollar value of nearly $10.5 million. The total aggregate number of shares shorted in this time period is approximately 8.4 million shares. The QTEK SqueezeTrigger price of $0.10 is the volume weighted average short price of all short selling in QTEK. A short squeeze is expected to begin when shares of QTEK close above $0.10. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.**********.
Month Total Vol. Short Vol. Avg. Price Short $ Value ------------ ---------- ---------- ---------- -------------
January '05 2,313,392 178,131 $0.19 $ 33,400 February 6,057,748 466,447 $0.15 $ 69,501 March 5,902,938 454,526 $0.13 $ 58,407 April 7,618,812 586,649 $0.16 $ 94,626 May 6,457,612 497,236 $0.15 $ 72,596 June 6,904,291 531,630 $0.12 $ 61,669 July 5,403,059 416,036 $0.11 $ 43,684 August 5,903,064 454,536 $0.09 $ 42,408 September 5,255,415 404,667 $0.08 $ 31,888 October 6,470,795 498,251 $0.07 $ 37,070 November 5,396,659 415,543 $0.06 $ 24,808 December 7,343,505 565,450 $0.06 $ 34,492 January '06 13,371,218 1,029,584 $0.07 $ 75,160 February 6,564,024 505,430 $0.08 $ 40,434 March 6,082,649 468,364 $0.07 $ 34,425 April 4,791,004 368,907 $0.06 $ 23,795 May 6,664,032 513,130 $0.05 $ 27,452
Total: 108,500,217 8,354,517 $0.10 $805,814
-- short volume is approximated using a proprietary algorithm.
-- average short price is calculated using a volume weighted average short price.
-- short volume is the total short trade volume and does not account for covers.
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTCBB: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%.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Congrats to all of you in this one early, I wanted to get it yesterday but I am stuck with a couple of bags. Again congrats and J U ICE, great pick, again.
-------------------- Damn, if he wasn't right. Posts: 391 | From: Tallinn, Estonia | Registered: Aug 2004
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quote:Originally posted by ohdagagain: Congrats to all of you in this one early, I wanted to get it yesterday but I am stuck with a couple of bags. Again congrats and J U ICE, great pick, again.
Thanks ohdagagain
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Quintek Pre-Releases Revenues With a 49% Increase Over Prior Quarter Thursday May 3, 8:45 am ET
Revenues for the Quarter Ending March 31, 2007 Increased 49% Over the Quarter Ending December 31, 2006
HUNTINGTON BEACH, CA--(MARKET WIRE)--May 3, 2007 -- Quintek Technologies, Inc. (OTC BB:QTEK.OB - News), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, announced today that its revenues for the quarter ending March 31, 2007 increased 49% over the quarter ending December 31, 2006. The material increases in revenues are the result of increased business from new customers. The increase represents a significant percentage increase in revenues from a consecutive quarter on quarter comparison. ADVERTISEMENT
The Company's pre-released revenues for the quarter ending December 31, 2006 totaled $594,064, which represents an increase of $196,781 or 49% over the revenues for prior quarter, ending December 31, 2006, which were $397,283. This also represents an increase of $94,185 or 19% over the quarter ending March 31, 2006 which were $499,879.
Andrew Haag, Quintek CFO stated, "We previously announced that we had increased our efforts to grow revenues through expanded sales and marketing; therefore we were expecting revenue increases for this quarter and look to focus our efforts on maintaining a trend of increasing revenues."
James Kernan, Quintek's newly appointed CEO stated, "Quintek has built a strong pipeline of new business prospects. We have proven that our team can deliver quality work to industry leading customers that are looking to imaging systems and document management services as a means of improving business processes and efficiencies." He continued, "Our goal is to grow rapidly and become the premier provider in our space."
The pre-released numbers listed above are subject to changes based
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