Message #17 From:
Stock News Bot Date: November 9, 2006 07:42:00 AM
QTEK News Quintek Closes New Business within Government Sector
HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Quintek Technologies, Inc. (OTCBB:QTEK), a global provider of Business
Process Outsourcing (BPO) and best-of-breed technology consulting
services, today announced it has increased its sales and marketing focus
to include state, local and federal government agencies.
In October, the Company named Nick Hare, former City of Santa Monica, CA
Superintendent of Santa Monica, California Municipal Solid Waste (MSW)
division, as Director of Government Services. Hare will be leading
Quintek's efforts in procuring government services contracts.
Quintek recently closed and began providing ongoing services in Los
Angeles County for one Department. Additionally, in the past year the
company provided services for the Los Angeles Department of Water and
Power and is currently pursuing other business in state and local
agencies. Quintek has identified other work in various government
agencies and is currently awaiting final decision from one agency. The
company sees the Government sector and an area of growth as increasing
efficiencies and streamlining initiative are put in place and need for
relevant and timely access to information grows.
Robert Steele, Quintek CEO stated that, “The
services the Company provides can help to streamline efficiencies within
governmental agencies. The net effect can be improved levels of service
and cost savings to taxpayers.” He continued, “Cost
savings within government agencies will result in allowing for funds to
be budgeted away from process oriented internal services that Quintek
can provide and shifted back to valuable services that can improve the
lives of taxpayers and residents.”
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTC BB:QTEK.OB),
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technology company, Quintek is unhindered by outdated information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 in 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%
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.