iTeknik Holding Corporation Posts Operating Profit and 5.5% Increase to $12.4 Million in Sales in FY 2012 Annual Report
18 Settembre 2012 - 6:32PM
Marketwired
iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the
telecommunications industry through its Send Global subsidiary,
today announced its financial results for Fiscal Year 2012 ending
June 30, 2012:
FY 2012 FY 2011 FY 2010
-------------- -------------- --------------
Sales $ 12,346,899 $ 11,702,974 $ 7,339,693
Operating expenses $ 1,356,179 $ 1,428,674 $ 1,023,101
Operating Income $ 150,373 $ 253,377 $ (8,635)
Debt-notes payable $ 218,371 $ 326,986 $ 499,644
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding
Corporation, stated, "We have worked hard to improve our financial
results for three straight years. Our plans for FY 2013 will be
designed to continue our expansion and focus on our profit margins.
We have expanded our product offerings to include three new
so-called 'hard' products, Subscriber Identification Modules for
mobile phones, DataJack™, which is a Wi-Fi hot spot available on
the nationwide Sprint 3G wireless network, and mobile broad brand
routers. In addition, we are expanding our Agent network and we
have modified our proprietary EZposa retail store interface so we
can easily add independent stores to our three thousand plus store
network."
The Company's FY 2012 Annual Report includes a "Letter from the
Chairman,"
http://www.otcmarkets.com/financialReportViewer?symbol=ITKH&id=90681.
The Chairman's Letter provides detail on iTeknik's:
- Continuous Improvement Program that resulted in a 5.0% decrease
in operating expenses
- FY 2013 Agent Expansion Program
- On-going Capital Structure Improvement Program
- Product Expansion Plans
- Strategic Plans for growth through merger/acquisition
iTeknik Holding Corporation (PINKSHEETS: ITKH) is classified as
"Current Information" and trades on the OTC Pink tier of the OTC
Market. For real time quotes and market information on the company
visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation iTeknik Holding Corporation
was formed to develop and launch new technology and products in the
global communications market. Through its Send Global subsidiary,
iTeknik provides wholesale and retail telecommunications services,
and products worldwide. Its services include voice over Internet
protocol origination and termination; A-Z routing and switching;
wholesale carrier routing services; reseller billing and reporting;
Web-based reseller solutions; prepaid calling card solutions;
international cellular calling; and retail point of sale solutions.
The company serves B2B carriers, telecom resellers, retail outlets
and consumers direct through websites such as www.MyMobile011.com,
www.GreatMinutes.com, www.AloBilady.com, www.IndiaMinutes.com and
www.MexicoMinutes.com. iTeknik Holding Corporation was founded in
2007 and is based in Commerce, Michigan. Through its subsidiaries,
iTeknik has more than 16 years of history in the telecommunications
industry. For more information please visit website www.iteknik.com
and www.sendglobal.com.
Safe Harbor: This document contains
certain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the
Company to successfully implement its turnaround strategy, changes
in costs of raw materials, labor, and employee benefits, as well as
general market conditions, competition and pricing. Although the
Company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no
assurance that the forward-looking statements included in this
letter will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included
herein, the inclusion of such information should not be regarded as
representation by the Company or any other person that the
objectives and plans of the Company will be achieved. In assessing
forward-looking statements included herein, readers are urged to
carefully read those statements. When used in the Annual Report,
the words "estimate," "anticipate," "expect," "believe," and
similar expressions are intended to be forward-looking
statements.
Contact: Investor Relations iTeknik Holding Corporation
888-333-1486
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