COMMERCE, Mich., Nov. 21, 2013 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC:ITKH), a leader in the telecommunications
industry through its Send Global subsidiary, today posted its First
Quarter FY 2014 financial results. Sales for the first three
months of fiscal year 2014, ending September
30, 2013, were $2,407,322
compared to $3,014,262 for the same
period in FY 2013. Operating Income for the first three
months of FY 2014 was $45,582
compared to $12,175 during the first
three months of FY 2013.
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "We are pleased with
our start on FY 2014, especially in terms of increasing our
operating income. We accomplished a significant positive turnaround
from the fourth quarter of FY 2013 results. These results
indicate that we are recovering from the effects of waiting for the
purchase Send Global assets to be completed. The transaction was
first scheduled to close in April
2013 but is still pending. This delay made FY 2013 difficult
for us. However our first quarter results are a big step
forward."
The complete FY 2014 First Quarter Report and Continuing
Disclosure Update can be viewed at:
http://www.otcmarkets.com/stock/ITKH/financials
iTeknik Holding Corporation (OTC Pink: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
info@iteknik.com
SOURCE iTeknik Holding Corporation