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iTeknik Holding Corporation Posts 7.6% Sales Increase in 1Q FY 2010 Financials

^{Published on 2009-12-10 06:57:04 - Market Wire}
 

COMMERCE, MI--(Marketwire - December 10, 2009) - iTeknik Holding Corporation (PINKSHEETS: [ ITKH ]), a leader and innovator in the telecommunications industry, today released its 1st Quarter 2010 Financial Statements for the period ending September 30, 2009.

 -- Consolidated sales for the 3-month period ending September 30, 2009 were $2,177,862 compared with $2,024,234 in the quarter ending June 30, 2009. -- Operating loss net of a one-time prior period adjustment was $51,078. 

The Company's financials are posted on Pink Sheets OTC and can be viewed at: [ http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=26995 ]

"2009 has been a challenging year for us," stated Jeffrey Lauzon, President of iTeknik Holding Corporation. "The effects of the economy and the shut down of our TeleCents subsidiary have affected this year's financial performance. However, we believe that 2010 has a great deal of upside potential especially now that we are focusing our efforts in the retail and consumer segments where we are strongest."

Recently the Company announced that it would cease operations at its TeleCents Communications, Inc. subsidiary. TeleCents was a 214-licensed carrier that provided phone cards and wholesale phone services to independent regional phone service providers.

About iTeknik Holding Corporation

iTeknik Holding Corporation's (ITKH) strategy is to grow by acquiring companies with unique products, technology and solid growth potential ([ www.iteknik.com ]). Send Global Corporation is a wholly owned subsidiary of ITKH. Send Global and its predecessor companies have offered cutting edge retail and wholesale telecommunications products and services for more than thirteen years. Through VoIP, data, a proprietary ANI gateway solution and traditional communications platforms, Send Global provides high quality, value priced international calls from the convenience of a mobile phone. For more information please visit our website [ www.sendglobal.com ].

Safe Harbor: This letter 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.