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iTeknik Holding Corporation Posts 7.3% Increase in Sales to $9.3 Million; and a 37.8% Decrease in Debt for First Nine Months ... PrintAlert
Iteknik Holding Corp (PC) (USOTC:ITKH)
Intraday Stock Chart
Today : Tuesday 15 May 2012
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:
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 otcmarkets.com
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.