SOURCE: Quintek Technologies, Inc.

May 03, 2007 08:45 ET

Quintek Pre-Releases Revenues With a 49% Increase Over Prior Quarter

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. (OTCBB: QTEK), 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.

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 on adjustments made as per auditor's final review of the quarter's results.

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. Forester Research, Inc. estimates that the market for BPO services will grow from $19 billion in 2004 to $146 billion in 2008. Business Insights, estimated the BPO market as the fastest growing area of the IT services sector. Growing at 8% annually it is expected to grow from $112.1 billion is 2005 to $144 billion in 2008.

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%

For more information, visit http://www.quintek.com.

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, 2006 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.

Contact Information

  • CONTACTS:

    Quintek Technologies, Inc.
    Andrew Haag
    Chief Financial Officer
    (714) 848-7741, Ext. 14
    Email Contact

    Communications:
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact