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Quintek
Technologies, Inc. (OTCBB: QTEK) |
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BREAKING NEWS ON TURNAROUND STORY
From Webster’s online dictionary:
turn·a·round n
The act or an instance of turning about and facing or moving
in the opposite direction; a reversal.
Today’s news release by Quintek Technologies (OTCBB: QTEK)
virtually affirms that definition as a description of the company’s
recent performance. With new management, a product en vogue, and
past issues put to bed, the turnaround may indeed be complete.
Apparently, the market concurs as the stock closed today at $.15
per share, a 300% appreciation over the last three months - See
chart below
StockUpTicks will continue its coverage of this intriguing story
in the days ahead and we recommend that our readers revisit our
June 03,
2003 Profile (click
here) at their earliest convenience. Additionally, we've assembled
the recent events and headlines from QTEK; the “stuff that turnarounds
are made of” if you will.
Recent Events for Quintek:
- Launches Next Generation product
- Listed in Standard and Poors
- Signs new financing agreement
- Discloses projections estimating an almost 20-fold increase
in sales in 3 years
- Receives agreement to reduce/restructure over $440,000 out
of $1.4 million in liabilities
- Meets internal sales forecasts
- Brings on advisory board
- Brings on new management
Recent News from Quintek:
Quintek Technologies Announces Acceptance of Settlement With
SEC - July 17, 2003
“Resolution of an outstanding event like this will allow us
to move forward more effectively with some of our business development
plans and take advantage of opportunities that exist in the marketplace,”
said QTEK CFO Andrew Haag.
To read the entire release click
here
Quintek Technologies Launches Next Generation, Network-Based
Product - July 08, 2003
To read the entire release click
here
Quintek Technologies, Inc. Listed in Standard & Poor's
Corporation Records - June 24, 2003
To read the entire release click
here
Quintek Technologies, Inc. Signs Purchase-Order Financing
Agreement - June 11, 2003
To read the entire release click
here
Quintek Technologies, Inc. Discloses Three Year Sales Projections
- June 05, 2003
Excerpt - Quote from Andrew Haag, Quintek CFO:
"Reducing our outstanding debt is a key
factor in creating a stronger financial foundation for Quintek.''
Haag continued, "By accomplishing this we hope to establish a
solid high-growth environment which will
result in Quintek being recognized by
the investment community.''
To read the entire release click
here
Quintek Technologies, Inc. Meets Internal Sales Forecasts
- May 28, 2003
To read the entire release click
here
Stay tuned to StockUpTicks for more info on QTEK!
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About
Quintek |
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Quintek is the only manufacturer of a desktop microfilm
printer. The company currently sells hardware, software
and services for printing large format drawings such as blueprints
and CAD files (Computer Aided Design) directly to microfilm.
"Our technology facilitates an environmentally-friendly
marriage of the industry-accepted format for design document creation,
CAD, to the industry-accepted media for long-term document storage,
microfilm."
Market Projected to Grow to $24 Billion by 2006
Quintek does business in the content and document management services
market, which IDC forecast to grow to $24 billion by 2006 at a combined
annual growth rate of 44%. Quintek targets the aerospace, defense
and AEC (Architecture, Engineering and Construction) industries.
Patented, Compact, Chemical-Free
Quintek’s printers are patented, modern, chemical-free, desktop-sized
units with an average sale price of $50,000. Competitive products
for direct output of computer files to microfilm are more expensive,
large, specialized devices that require constant replenishment
and disposal of hazardous chemicals.
Unique Design Solves a Problem and Delivers Savings
In most cases aperture cards are developed with chemical-based
microfilm technology and are then assembled manually. This is
an expensive and time consuming process. Quintek’s automated equipment
solves this costly problem for this already established market
and can deliver a return on investment in less than twelve months.
Fortune 1000 Customers
For ten years, Quintek has been selling its patented “Aperture
Card” printers to Fortune 1000 customers such as Boeing, TRW,
PG&E, Lockheed, Zenith, GTE, Westinghouse, Whirlpool and Federal
and State customers such as Caltrans, NASA and the U.S. Navy.
Cheaper, Faster and More Reliable
Electronic Digital Imaging and Document Management are now mature
technologies that are widely available. However, there are some
parts of the document lifecycle where Microfilm remains the most
efficient and economical solution. Microfilm remains the best
solution for archival of large format drawings. Microfilm
is cheaper, faster and more reliable than digital systems for
distributing drawing revisions during manufacturing and construction.
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