Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud.
We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
HUNTINGTON BEACH, CA -- (MARKET WIRE) -- 01/10/06 -- Quintek Technologies,
Inc. (OTC BB: QTEK), a global provider of Business Process
Outsourcing (BPO) and best-of-breed technology consulting
services, today announced that it has received a signed
agreement to deliver services nationally to a major
biotechnology company.
This agreement represents additional business resulting from
Quinteks previously disclosed relationship with a $29
billion international transportation, e-commerce and
business solutions provider. The end user of the services is
a biotechnology company generating roughly $12 billion a
year in revenues, engaged in the discovery, development,
manufacture, and marketing of human therapeutics based on
advances in cellular and molecular biology. Quintek
received the additional business after providing services to
this company for over six months.
Effective immediately, Quintek will expand from 1 to 4
sites, providing services throughout the US for this
customer. Quintek estimates that billings should increase
significantly from this newly executed agreement. The
additional business should increase revenues from this
account by over 100%. The annual estimated run rate of
$216,000 should grow to roughly $504,000, commented Andrew
Haag, CFO of Quintek. This additional business, from an
existing customer, is a strong vote of confidence.
Robert Steele, CEO of Quintek stated, This is a solid
agreement, with fixed monthly minimum billings. He added,
We are currently delivering services for several
multi-billion dollar customers that are leaders in their
industry; we plan to grow the business around this model.
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%.
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, 2005 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.
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