HUNTINGTON BEACH, CA -- (MARKET WIRE) -- October 30, 2006 -- Quintek Technologies, Inc. (OTCBB: QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, today announced it has secured a new contract for services from a customer with 25 years experience in the direct marketing industry. The contract is a 2-year commitment and is estimated to result in $550,000 in new revenues for the Company.
Quintek has designed a true BPO services solution for the customer where work will be performed on the customer's site, from Quintek's Huntington Beach facility, and offshore. Under the terms of the agreement Quintek will provide high-speed scanning and data capture work for the customer. The services provided by Quintek will help speed turn around time for the customer in processing orders and improve overall efficiencies for their business.
Robert Steele, Quintek CEO, commented, "This contract is a result of our increased sales and marketing efforts. This customer is interested in achieving greater efficiencies across their operation, which will allow them to obtain more business and increase their revenues. These are the types of customer relationships we look for, where we can add long-term value and create a base for recurring revenue streams." He added, "We have many other sales opportunities in the pipeline which we look forward to closing. We are looking for to continued growth and success as we push forward."
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 As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO.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.
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 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.