SOURCE: iTeknik Holding Corporation

June 20, 2011 09:41 ET

iTeknik Holding Corporation Needs Only Three Quarters to Surpass All of Last Year's Sales

COMMERCE, MI--(Marketwire - Jun 20, 2011) - iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the telecommunications industry through its Send Global subsidiary, today announced that its sales for the first three quarters of FY 2011 were $8,700,671 compared to sales $7,339,657 for the entire four quarters of FY 2010. Net income in the first nine months of FY 2011 was $232,085 compared to a loss of ($94,511) in the same period of the prior year.

Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "Any time you are able to surpass your last year's sales in only three quarters of the current year, you are having a good year. We are very proud of this accomplishment and the fact that we have produced a significant profit from operations compared to a loss last year."

The complete financial report for the first three quarters of FY 2011, through the period ending March 31, 2011, can be viewed at: http://www.otcmarkets.com/stock/ITKH/financials.

About iTeknik Holding Corporation
iTeknik Holding Corporation provides wholesale and retail telecommunications services and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; wholesale carrier routing services; reseller billing and reporting; Web-based reseller solutions; prepaid calling card solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers direct through websites such as www.MyMobile011.com, www.greatminutes.com, www.AloBilady.com, www.indiaminutes.com and www.MexicoMinutes.com. iTeknik Holding Corporation was founded in 2007 and is based in Commerce, Michigan. Through its subsidiaries, iTeknik has more than 13 years of history in the telecommunications industry. For more information, please visit website www.iteknik.com and www.sendglobal.com.

Safe Harbor: This document 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