COMMERCE, Mich., May 17, 2013 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC: ITKH), today posted its third quarter and nine month financial results for FY 2013. Sales for the third quarter of FY 2013 were $2,897,117. The company posted a loss of ($37, 843) for the period. Sales for the 9 month period ending March 31, 2013 were $8,733,842 compared to $9,333,109 in the prior year. There was a net loss of ($47,603), for the nine-month period compared to a profit of $142,256 during the first nine months of FY 2012.
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "The third quarter was very difficult. Our financial results were directly related to the TV marketing efforts of large competitors and their dramatic price reductions for international calls. In addition, the growth of free international calling on the internet has affected our bottom line. Our operations team is working very hard to improve performance by diversifying into new products such as SIM cards and cutting expenses wherever possible."
The complete FY 2013 3Q Report and Continuing Disclosure Update can be viewed at: http://www.otcmarkets.com/stock/ITKH/financials. iTeknik Holding Corporation is classified as "Current Information" and trades on the Pink tier of the OTC Market. For 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. 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. iTeknik Holding Corporation was founded in 2007. It is a Wyoming Corporation and is based in Commerce, Michigan.
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.
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