|iTeknik Holding Corporation Posts Operating Profit and 5.5% Increase to $12.4 Million in Sales in FY 2012 Annual Report |
|Date : ||09/18/2012 @ 12:32PM |
|Source : ||MarketWire |
|Stock : ||Iteknik Holding Corporation (PC) (ITKH) |
|Quote : || 0.0036 0.0 (0.00%) @ 11:38AM |
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|iTeknik Holding Corporation Posts Operating Profit and 5.5% Increase to $12.4 Million in Sales in FY 2012 Annual Report|
Iteknik Holding Corporation (PC) (USOTC:ITKH)
Intraday Stock Chart Today : Tuesday 18 September 2012
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," otcmarkets.com
The Chairman's Letter provides detail on iTeknik's:
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 otcmarkets.com
- 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
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.
iTeknik Holding Corporation