CAMARILLO, Calif., Oct. 7, 2003 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that it has added Mr. Edwin L. LoTurco to its Strategic Advisory Board. LoTurco will assist the company in achieving its objectives and becoming a dominant player in the multi-billion dollar content and document services industry.
LoTurco, currently an independent consultant, in Lexington, MA, provides his clients with business analysis experience, while introducing content management strategies and the application of technology to business problems.
His previous experience includes, Sr. Director of High Tech Marketing for PTC (Parametric Technology Corporation) where he was responsible for developing business strategy related to the manufacturing industry. In his first 8 months, with PTC, LoTurco established a 27% international growth rate and directed marketing events resulting in $20 million dollars in potential new business for PTC. He also held positions as; Director Worldwide Industry Marketing for Eastman Software, Inc., a Kodak (NYSE:EK) Company; Director of Marketing for Novasoft Systems, Inc., a leading supplier of engineering document management software and a 23-year career with Digital Equipment Corporation in high-level positions.
Robert Steele, President and CEO of Quintek commented, "Ed brings a vast amount of experience to Quintek's Advisory Board. His depth of knowledge and his connections in the document management industry should allow us to forge important new relationships and develop efficient marketing strategies and exciting new products."
About the Strategic Advisory Board
The Strategic Advisory Board is comprised of individuals who bring specific knowledge and expertise to Quintek. In addition to those already announced, The Company is considering a broad range of individuals who are active in Quintek's industry, influential members of the business community and professionals that possess specific knowledge and resources that can be of benefit to the Company.
Quintek plans to invite certain individuals from the Strategic Advisory Board to become members of the Board of Directors when the time is appropriate. The Company is looking to the future and preparing for a strong period of growth.
About Quintek
Quintek is the only manufacturer of a chemical-free desktop microfilm solution. 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. Quintek does business in the content and document management services market, forecast by IDC Research to grow to $2.4 billion by 2006 at a combined annual growth rate of 44%. Quintek targets the aerospace, defense and AEC (Architecture, Engineering and Construction) industries.
Quintek's printers are patented, modern, chemical-free, desktop-sized units with an average sale price of over $65,000. 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.
"Safe-Harbor" Statement under the Private Securities Litigation Reform Act of 1995
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, 2002 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, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.