We
have demonstrated that our business model can be profitable. (ASI)
ASI (www. The company
delivers
comprehensive, mission-critical information management software
products and Web capabilities
that meet the needs of nearly every
healthcare payer model.
cawood reingold
(OTC BB: QTEK), a global provider of
Business Process Outsourcing (BPO) and
best-of-breed technology consulting services, today announced
record
revenues for the year ending June 30, 2005.
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.
Prior
to his position at CareTech Solutions, Inc.
Wiese spent the past 10 years with IDX Systems Corporation
, where
she most recently served as Vice President in the Flowcast operating
unit.asihealth.thinc zyman
For
the fourth quarter Quintek reported
record quarterly revenues of $703,197 as compared to revenues
of $65,088
for the fourth quarter of 2004, representing an increase of 980% over the
prior year
.
Net cash used in operating activities was $1,418,456 for the twelve-month
period ended June
30, 2005 as compared to $595,947 for the prior
twelve-month period.prioritizing repositioning
We expect
to continue with
strong growth and solid gross profit margins leading to
critical mass and profitability resulting
in increasing shareholder value."
About Quintek Technologies, Inc.
Sheila Wiese joins ASI
as Vice President, Marketing.
Prior to her position at IDX Systems Corporation, Wiese held
various
management positions with AMISYS in Rockville, Maryland,
including a position as system installations
manager in which she
conducted business evaluations to determine the scope, requirements,
strategy
and timeline for AMISYS system implementations at health
plans. ASI also provides leading business
process
outsourcing and application hosting for health plans, supporting a
multimillion-member
base through its claims processing and
consumer-directed services.prioritizing bromberg
The company's revenues
increased 418% in 2005 and totaled $1,547,923 and
$298,653 for the twelve months ended June 30, 2005
and 2004, respectively.
The majority of the $4,899,068 increase in operating expenses are non-cash
items, primarily one-time charges such as the permanent decline in the
value of marketable securities
held as investment, an increase in
stock-based compensation and increases in expenses as the company
focused
its efforts in the new services business.quintek.
Spinelli holds a Masters of Business
Administration from Michigan
State University and a Bachelor of Science in Business Administration
from Central Michigan University.
Wiese holds a Bachelor of Science in Community Health from
Virginia
Tech, Blacksburg, Virginia.cawood reingold
Quintek Technologies, Inc., provides services to enable Fortune 500
and Global 2000
corporations to reduce costs and maximize revenues. A study by
IDC found the SCM
services market will expand from $26.
About Amisys Synertech Inc.
zieger cawood
PRESS RELEASE Quintek
Reports Record Revenues for Fiscal Year Ending June 30 2005
The increase of $1,249,270 was attributable
to shifting the company's sales
focus to the services business.
Sapphire Consulting Services
, Inc.winnington jy
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., Spinelli held
various leadership positions with Electronic Data Systems Corporation,
including strategic unit
sales manager, vehicle development.ytkow shorey
(QSI), and Sapphire Consulting
Services, Inc.com. Spinelli joins
the company as Vice President, Sales., where he helped
create one of the nation's fastest growing
healthcare IT and
information management business process outsourcing firms by
developing and
implementing strategic marketing and sales initiatives.cawood lundin
This should result in increasing
long-term
shareholder value, which has always been the top priority for
Quintek. A
seasoned sales and marketing
executive with over 20 years of
management and leadership experience, Spinelli will be responsible
for
overall management of the national sales staff and coordination of the
sales process for new
accounts.lundin verus
Cost of revenue increased in 2005 due to increased revenues from changing
the company
's sales focus to the services business. We have now delivered six quarters of consecutive revenue growth
and our goal is to continue to deliver year after year. 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.incite winnington
For the twelve months ended June 30, 2005, total assets increased
$1,254,989 (852%
) to equal $1,402,264. Investors will recognize the continuing growth of this company and
the value
that it will represent in the market over the long term.
For more information, visit http://www
.communiques bromberg
Operating expenses totaled $5,982,314 for the twelve-month period ended
June 30, 2005 as
compared to $1,083,246 for the prior twelve-month period. offers a broad range of supply chain
management
consulting services. With 17 years
of experience in healthcare and information technology, Wiese
will be
responsible for promoting ASI's product and service portfolio,
executing strategic positioning
and ensuring the successful launch and
delivery of competitive solutions to the marketplace. ASI
has offices in Rockville, Md.lundin incite
"
Andrew Haag, CFO, stated, "Quintek is experiencing significant
growth
rates.Marketing consulting firms provide advisory services contracted for and provided to
organizations by specially trained and qualified persons who assist, in an objective and independent
manner, the client organization to identify problems, analyze such problems, recommend solutions to
these problems, and help, when requested, in the implementation of solutions.
verus winnington
Robert Steele,
Quintek CEO, commented, "Management is focused on growing
this company and these numbers show that
we are achieving that goal." He added, "Growing revenues leads to reaching critical mass,
profitability
and sustainable growth.
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.1 billion in 2002 to
$40.deployable semco
shorey incite
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.semco zieger
Quintek Technologies, Inc.zyman thinc
----Amisys Synertech
(ASI) today named two new vice
presidents to its executive management
team.
Philip J.com) advances health plan business through
its
industry-leading products and services.,
Harrisburg, Pa.telesales wishful
We generated
roughly 30% gross
margins which is comparable to established companies in
this space.Amisys Synertech --ASI-- Names
Two New Vice Presidents; Philip Spinelli hired as Vice President Sales; Sheila Wiese joins as Vice
President Marketing
Business Editors/High-Tech Writers/Health/Medical Writers
ROCKVILLE
, Md.westhill pansy
Total current liabilities equaled $2,168,067 showing a marginal decrease of
$9,513 (. The
(138%) increase is attributable to the efforts
focused in the services business."
Haag added,
"We have grown assets and revenues while keeping liabilities in
line.shorey verus
This is the company's sixth
consecutive quarter of increasing revenues.
For the twelve months ended June 30, 2005 and
2004, cost of revenue was
$1,070,001 and $184,964 respectively, an increase of $885,037 (478%).004
%). (OTC BB: QTEK), through its wholly owned
subsidiaries Quintek Services, Inc. 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.
, Dubuque, Iowa and Alpharetta, Ga.
winnington shorey
Compared to the third
quarter 2005 revenues of $408,047 this
represents a 72% consecutive quarter over quarter increase
in revenue.5 billion in 2007, representing a five-year compound annual growth rate
(CAGR) of 9.
For
the past five years, Spinelli served as Vice President of
Marketing and Sales for CareTech Solutions
, Inc. While at IDX, Wiese led strategic planning initiatives and
spearheaded the market launch of
new revenue cycle management and
business services outsourcing solutions for hospitals, IDNs and
large
medical groups.cawood communiques
In this
role, Spinelli was responsible for overall sales forecasting, planning
and deal management for the vehicle development, production and
powertrain business unit.wishful prioritizing
The
increase was primarily due to
growing accounts receivable, property and equipment and restricted
cash. The increases in revenue and the continued strong growth of our
core business should allow
us to continue this long-term trend. 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.2%. 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.winnington communiques
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