SOURCE: Quintek Technologies

September 14, 2005 08:06 ET

Quintek Technologies Current Fiscal Year Revenues Due Out by Sept. 30

Revenues Expected to Increase 300% and Exceed Projections

HUNTINGTON BEACH, CA -- (MARKET WIRE) -- September 14, 2005 -- Quintek Technologies, Inc. (OTC BB: QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, announced today that the financial results for current fiscal year ended June 30, 2005 are due out by Sept. 30, 2005. Revenues are expected to come in ahead of previously disclosed projections and represent an increase of over 400% versus the previous year.

In July of last year the company released projections for the year ending June 30, 2005 of $887,705. Quintek disclosed revenues of over $844,762 in the first nine months of FY 2005. For the fiscal year ending June 30, 2005 Quintek anticipates revenues of at least $1,242,787, representing an increase of over 300% versus the prior fiscal year. The revised projections represent a guidance increase of over 40% above the original forecast.

The Company expects to continue achieving strong growth while further penetrating the large and rapidly expanding market for Business Process Outsourcing (BPO) services. Forrester Research forecasts the BPO space will have grown from $19 billion in 2004 to more than $145 billion in 2008, a Compounded Annual Growth Rate (CAGR) of 66%. Quintek has experienced a quarterly growth over the past several quarters.

"The Company has made progress within all of our targeted markets," stated Robert Steele, CEO of Quintek. "We continue to execute and deliver on long-term contracts with marquis customers and build relationships with our partners. Building upon the foundation we have created over the past 18 months, the Company should achieve critical mass, leading to profitability and an increase in shareholder value."

A summary of important business developments includes:

--  The development of Quintek's outsourced Accounts Payable (AP) service,
    which can benefit almost any major corporation. As a result of increased
    corporate reporting requirements spurred on by the Sarbanes-Oxley Act of
    2002, demand is on the rise for solutions such as this.
    
--  Last fall Quintek entered into an agreement with a $3 billion provider
    of industrial and institutional applications. Quintek provides a suite of
    services that streamline and outsource this company's accounts payable (AP)
    function.
    
--  The Company entered into an open agreement with Single Source Partners
    (SSP) in April 2004 to advance sales in the mortgage industry.
    
--  Last fall, after identification by SSP, Quintek began providing
    services to a Fortune 10 lending institution, with reported annual revenues
    of over $20 billion. The Company has seen continued growth in revenues
    within this account.
    
--  In July 2005, Quintek executed an Exclusive Sales and Marketing
    Agreement with SSP targeting approximately $15 million in new business over
    the next twelve months.
    
--  In the spring of 2004, the Company entered into an agreement with a
    nationally recognized business solutions and overnight delivery company, to
    provide outsourced services to their customers.
    
--  In February 2005, the Company began work on its first multi-year
    agreement through the  above mentioned relationship. Under this agreement
    Quintek is providing services in Thousand Oaks, CA, for a leading life
    sciences and biotechnology company.
    
--  Through a subcontracting agreement with a healthcare technologies
    integrator, Quintek has been providing imaging service for over 12 months
    for a major medical center in Los Angeles, CA.
    
Additionally, Quintek announced the creation of the Sapphire Consulting Services, Inc. business unit, a Supply Chain Management (SCM) consulting company that is a wholly owned subsidiary of Quintek. Sapphire is rapidly contributing to the overall growth of Quintek and it is expected to continue to add new customers and create new revenue channels. Sapphire has already identified a pipeline of potential business dollars with major customers across all markets that exceed $30 million.

Andrew Haag, Quintek CFO, commented, "We plan to capitalize on our success over the past year and a half by aggressively continuing to build our Company." He added, "As we grow we will expand our awareness with financial institutions and investors, with the goal of adding shareholder value."

About Quintek Technologies, Inc.

Quintek Technologies, Inc. (OTC BB: 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%.

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

Safe Harbor Statement

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, 2004 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
    (949) 497-6684
    Email Contact