SOURCE: iTeknik Holding Corporation

January 06, 2011 11:18 ET

iTeknik Holding Corporation Begins FY 2011 With 20% Increase in Sales and 39.8% Increase in Net Income

COMMERCE, MI--(Marketwire - January 6, 2011) - iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the telecommunications industry through its Send Global subsidiary, has posted improved sales and net income for the first quarter of FY 2011 ending September 30, 2010. 

  • Sales for the three months ending September 30, 2010 were $3,005,126 compared to $2,501,591 for the prior quarter ending June 30, 2010 and $1,904,002 for the quarter ending September 30, 2009
  • Net Income for the quarter was $73,438 compared to $52,546 for the prior quarter
  • Total liabilities were reduced by 6.6%

The Quarterly Report for Q1 FY 2011, through the period ending September 30, 2010, can be viewed at: http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=39967

Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "We are pleased with our first quarter results. We are planning a number of initiatives in Fiscal Year 2011 designed to increase our sales and profits and to improve our balance sheet."

About iTeknik Holding Corporation

iTeknik Holding Corporation provides wholesale and retail telecommunications services, and products worldwide including: Voice over Internet Protocol (VoIP) origination and termination; A-Z routing and switching; wholesale carrier routing; Web-based reseller solutions; prepaid calling card solutions; and international cellular calling. The company serves B2B carriers, telecom resellers, retail outlets and consumers. Through its subsidiaries, iTeknik Holding Corporation has more than 13 years of history in the telecommunications industry. For more information please visit our websites, www.iteknik.com and www.sendglobal.com

Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    iTeknik Holding Corporation
    888-333-1486