iTeknik Holding Corporation Posts 7.3% Increase in Sales to $9.3 Million; and a 37.8% Decrease in Debt for First Nine Months ...
May 15 2012 - 9:00AM
Marketwired
iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the
telecommunications industry through its Send Global subsidiary,
today posted its Third Quarter FY 2012 nine month results. Sales
for the first nine months of fiscal year 2012, ending March 31,
2012, were $9,333,109 compared to $8,700,671 for the same period in
FY 2011. This is a 7.3% improvement year-over-year for the period.
Net Income for the first nine months of FY 2012 was $138,256,
compared to a net income of $190,327 during the same period in FY
2011. Other financial results for the first nine months of 2012
include:
- Total liabilities decreased by 19.0%
- Debt decreased by 37.8%
- Operating Expenses were reduced by 5.6%
- Stockholders' equity increased by 11.6%
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding
Corporation, stated, "Overall we are pleased with the results for
FY 2012 to date. Sales continue to increase. We are also achieving
our goals of reducing debt and expenses. During the fourth quarter
we are launching an enhancement of our EZ Posa store interface. Our
objective is to focus on changing the mix of our product sales and
increasing net income performance."
The complete FY 2012 Nine Month Financial Report and Continuing
Disclosure Update can be viewed at:
http://www.otcmarkets.com/stock/ITKH/financials
iTeknik Holding Corporation (PINKSHEETS: ITKH) is classified as
"Current Information" and trades on the OTC Pink tier of the OTC
Market. For 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 on
Form 10-K, 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
Iteknik (CE) (USOTC:ITKH)
Historical Stock Chart
From Mar 2025 to Apr 2025
Iteknik (CE) (USOTC:ITKH)
Historical Stock Chart
From Apr 2024 to Apr 2025