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Quest Solution Inc. (QUES)

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Contact Info

 

     


860 Conger Street
Eugene, OR 97402


Phone : (714) 899-4800

Website
: http://www.questsolution.com

Email: rvogtmann@questsolution.com

 
              
             
    Share Structure As Of 12-06-17
     Authorized : 100,000,000
     Outstanding : 36,809,777
     Float : 18,248,633 
               
          
   
    About Us

Quest Solution (OTCQB: QUES) is a specialty systems integrator that offers field and supply chain mobility solutions throughout the United States. The Company is also an established manufacturer and distributor of barcode labels, tags, and ribbons, as well as RFID labels and tags.

Over two decades of experience have made Quest an industry leader in several verticals, including manufacturing, healthcare, field services, and more. We work closely with customers to deliver the ideal solutions needed to help them achieve their goals.

                       
                            
                   
                     
                  
                      
        		  
           
      		  
            
          
                  
     Recent News/PRs 
        
     Dec 15, 2017 - Quest Solution Named to Food Logistics' 2017 FL100+ Top 100 Software and Technology Providers List
                       

EUGENE, OR--(Marketwired - December 15, 2017) - Quest Solution, Inc. (OTCQB: QUES), a specialty systems integrator that offers field and supply chain mobility solutions, announced that it has been named to Food Logistics' 2017 FL100+ Top Software and Technology Providers list.

The annual list serves as a resource guide of software and technology providers whose products and services are critical for companies in the global food and beverage supply chain.

Shai Lustgarten, CEO at Quest Solution, commented, "We are pleased to be recognized by Food Logistics as a leading software and technology provider. We work closely with our customers to deliver state-of-the-art technology and effective solutions to improve their productivity while also helping them lower their operating costs. Our goal is to provide solutions that enable industry leaders to improve their supply chain performance, and inclusion in this year's list demonstrates our ability to do exactly that."

Quest Solution, a partner to several large companies in the food and beverage logistics industry, specializes in tracking and traceability, as well as controls and recall management functionalities that ensure proper compliance. The Company offers a broad array of logistics solutions, combining technologies such as configurable applications used in automatic order placing, mobile computers designed for various refrigerated environments, wireless networks for mobile scanners, and much more, optimizing supply chain performance as a result.

"New developments and innovations in the software and technology sector are making sizeable impacts on the global food supply chain," notes Lara L. Sowinski, editorial director for Food Logistics and its sister publication, Supply & Demand Chain Executive. "The result is a greater visibility, improved regulatory compliance, enhanced shelf life for perishables, and the emergence of a more proactive and nimble food supply chain that benefits both the food industry and its logistics partners, as well as the end consumer."

 

https://www.otcmarkets.com/stock/QUES/news/Quest-Solution-Named-to-Food-Logistics--2017-FL100--Top-100-Software-and-Technology-Providers-List?id=178231&b=y

                                                  

       
     November 17th - Quest Solution Reports Third Quarter 2017 Results
        

EUGENE, OR--(Marketwired - November 17, 2017)Quest Solution, Inc. (OTCQB: QUES), a specialty systems integrator focused on field and supply chain mobility announced its financial results for the three and nine-month periods ended September 30, 2017.

Highlights

Revenues for Q3 2017 of $12.96 million declined slightly from $13.56 for Q3 2016
Improved gross margin of 21.8% for the quarter ended September 30, 2017, compared to 19.6% in Q3-2016
Salary and employee benefits Operating expenses includes $416,548 of non-cash stock based compensation
Total operating expenses decreased 8.6% to $9.1 million for the first nine months ended September 30, 2017 compared to $10 million in the prior year period
Substantial reduction of net loss from continuing operations to $0.9 million for the three months ended, an improvement of $1.6 million compared to the prior year period
$4.6 million reduction in current portion of notes payable
Management focuses on turnaround plan aiming to strengthen the financial structure and turn to profitability

Quest reported revenues of $12.96 million for the third quarter ended September 30, 2017 compared to $13.56 million in the comparable 2016 period. The slight decrease was mainly attributable to unavailability of inventory at the manufacturer which delayed shipments into Q4-2017. Gross margin improved to 21.8% in the third quarter of 2017 compared to 19.6% in the prior year period, primarily due to a 7.1% decrease in the cost of goods sold. During the quarter the Company expensed $416,548 in non-cash stock based compensation. The Company reported improved net loss from continuing operations of $902,882, or a net loss from continuing operations of $0.03 per share, as compared to net loss from continuing operations of $2,467,290, or a net loss from continuing operations of $0.07 per share in the same quarter last year. Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes and Depreciation and Amortization) improved to $309,812, or 2.4% of sales, compared to $190,437 or 1.4% of sales in Q3-2016.

Shai Lustgarten, CEO, commented, "One of our primary goals entering the third quarter was to improve operational efficiency, and our results reflect just that. Not only did gross profit increase as a percentage of sales, we significantly reduced net loss from continuing operations. Moreover, while total operating expenses rose slightly during the quarter, this increase was largely related to $416,548 in non-cash, stock based compensation."

For the nine months ended September 30, 2017, Quest reported revenues of $40.9 million, compared to $43.4 million in the comparable 2016 period. The decrease was primarily related to a temporary unavailability of inventory at the manufacturer, as described above. Gross margin improved to 21.1% in the first nine months of 2017 compared to 20.2% in the same period in 2016, primarily related to a 6.9% decrease in the cost of goods sold. During the period the Company expensed $565,593 in non-cash stock based compensation. Net loss from continuing operations improved significantly on a nine-month basis to $1.7 million, or a loss of $0.05 per share, compared to a net loss from continuing operations of $5.4 million, or a loss from continuing operations of $0.15 per share in the prior year period. Adjusted EBITDA for the nine month period improved to $1,405,202, or 3.4% of sales, compared to $503,338, or 1.16% of sales for the comparable period.

Mr. Lustgarten continued, "We are pleased with the initial progress we have made in several areas of our turnaround strategy. An initial priority has been to reduce costs in the business, and we have realized significant efficiencies thus far which should translate into over $1 million in savings in 2018. Second, the balance sheet saw marked improvement, with a $4.6 reduction in the current portion of our notes payable."

Mr. Lustgarten concluded, "Quest has built a world class customer base of Fortune 100 companies who look to us to help solve their supply chain needs. This market is evolving quickly and Quest sits in a unique position to drive more profitable growth. To that end, a key focus of the new management team is to offer new and enhanced solutions, with a particular focus on software and services. This year Quest launched the Route Edge software product which has been well received. We saw an increase in our more profitable software and services sales during the quarter and our goal is to continue to grow this portion of our sales mix and better leverage our valuable sales channel."

        
     https://www.otcmarkets.com/stock/QUES/news/Quest-Solution-Reports-Third-Quarter-2017-Results?id=175788&b=y 
       

                  
     September 12th, 2017 - Quest Solution to Provide Hardware and Essential Data to Fortune 500 Provider of Pharmaceuticals and Medical Supplies
                           

EUGENE, OR--(Marketwired - September 12, 2017) - Quest Solution, Inc., (OTCQB: QUES) a specialty systems integrator that offers field and supply chain mobility solutions, has reached a three-year supply agreement with a US-based multibillion dollar corporation for the supply of mobile equipment enabling more efficient supply chain and inventory management.

Shai Lustgarten, CEO stated, "This opportunity to work with a large, well known healthcare provider is a major win for Quest Solution. We look forward to providing valuable hardware and data solutions to assist in improving the efficiency of complex supply chain and logistic operations."

Beginning in Q4 of 2017, Quest Solution will provide hardware solutions, project management, and other services for the customer. The first stage of the project is expected to be completed within 12 months of the start date with a total expected value of over $4M. Quest Solution has vast experience providing companies with hardware, software, and services to manage complex supply chain needs.

The customer delivers pharmaceutical and medical products and business services to tens of thousands customers across North America and internationally.

"This is a vote of confidence from a well-regarded Fortune 500 Company operating a complex supply chain with solutions expected to perform with zero faults. We are excited that Quest Solution has been selected to assist with their technology upgrade and data collection," said Shai Lustgarten, President and CEO at Quest Solution.
 

http://www.otcmarkets.com/stock/QUES/news/Quest-Solution-to-Provide-Hardware-and-Essential-Data-to-Fortune-500-Provider-of-Pharmaceuticals-and-Medical-Supplies?id=169538&b=y

                               

 
     August 7th, 2017 - Quest Solution Announces Turnaround Plan to Improve Operating Performance and Increase Profitability
                                       

EUGENE, OR --(Marketwired - August 07, 2017) - Quest Solution, Inc. (OTCQB: QUES) -- Quest's Chairman and Chief Executive Officer Shai Lustgarten announced the launch of the Company's turnaround plan to drive improved operating performance and increase profitability.

"Today we begin the implementation of our strategy to reset and turnaround the business with the goal of further establishing Quest as a premier provider & specialty system integrator of state-of-the-art technology and innovative Field & Supply Chain Solutions," stated Shai Lustgarten.

The Company has identified the following priorities to improve operating performance and increase shareholder value:

Adding new technologies to build upon the robust suite of technology solutions available to customers
Sales growth with increased focus on higher margin software solutions and value added services
Driving margin improvement through consolidation to drive efficiency
Improving EBITDA and returning to sustained net profitability 
Restructuring and strengthening the Company's balance sheet to enhance Quest's financial position

"Following my appointment a few months ago," continued Mr. Lustgarten, "I was immediately impressed by the Quest team and the achievements of our dedicated employees. With the support of a new Board of Directors, talented management team and experienced consultants, we are implementing a turnaround plan to drive the future success of Quest. New management's immediate priorities are to: deliver sustained profitability, aggressive growth by adding new innovative solutions, increase software service revenue and strengthen our balance sheet. As we execute this turnaround, we will build on our existing relationships with the Fortune 500 companies we serve. We look forward to implementing this strategy with the goal of significantly improving operating performance as we move through the balance of this year and into 2018."
 

http://www.otcmarkets.com/stock/QUES/news/UPDATE---Quest-Solution-Announces-Turnaround-Plan-to-Improve-Operating-Performance-and-Increase-Profitability?id=166506&b=y


 

                                
     Marketwired (Wed, May 03, 2017) Quest Solution and TrackX Implement Asset Tracking and Management Solution for Leading Online Used Car Retailer
                                       

EUGENE, OR--(Marketwired - May 3, 2017) -  Quest Solution, Inc. ( OTCQB : QUES ), a specialty systems integrator that offers field and supply chain mobility solutions, has worked with TrackX Holdings, Inc. ( TSX VENTURE : TKX ) ( OTC PINK : TKXHF ) ("TrackX") to roll-out Phase 1 of an RFID asset tracking and management solution for a leading online used car retailer. This integrated solution, with an estimated value of $5M, is responsible for tracking and managing hundreds of thousands of vehicles throughout all of the customer's U.S. locations. The solution integrates predictive analytics and workflow processing to efficiently manage their automotive inventory.

Quest Solution's pivotal role in Phase 1 of a multi-phased project supported TrackX's delivery of its Global Asset Management for Enterprise (GAME) solution to this rapidly growing customer. In addition to providing business needs analysis, hardware selection, staging, kitting, integration and training of both mobile and stationary devices, Quest also engaged with TrackX to contribute professional services and project management in support of an aggressive implementation schedule.

The hardware needed for this tracking solution included Zebra Technologies handhelds and printers, Cradlepoint routers, JLT tablets, and Impinj RFID readers and antennas. With a focus on the design, deployment, and support of fully integrated mobile solutions, Quest harnesses decades of experience to integrate these solutions with auto-ID technologies like RFID, GPS, and sensors.

The partnership between TrackX and Quest has united decades of knowledge and experience, allowing both companies to deliver enterprise scalable and industry-leading asset tracking and inventory management solutions. TrackX's GAME platform provides extensive analytics on vehicle processing, service quality, and logistics efficiencies. The end result of this tracking and management solution is increased efficiency, accountability, inventory accuracy and a higher-quality customer experience.

"The combination of TrackX's GAME platform and our professional services and hardware offerings is already proving to be extremely valuable for this customer," said Shai Lustgarten, CEO at Quest Solution. "We are very enthused about our partnership with TrackX and, given our extensive customer base, we believe that this implementation is representative of the value that many of Quest customers can benefit from. We look forward to continuing to benefit similar businesses through our relationship with TrackX."

Tim Harvie, President and CEO of TrackX, said, "Our customer's commitment to expand upon the use of the TrackX solution across both additional locations and business processes is a testament to the combined efforts of Quest Solution and TrackX. Quest not only has the experience and expertise, but also the geographical coverage to support the delivery of TrackX solutions nationwide. We value Quest as a key partner to enable deployment of our GAME platform, a key pillar in solutions for the Industrial Internet of Things (IIoT) and enterprise digital transformation."
 

https://finance.yahoo.com/news/quest-solution-trackx-implement-asset-123000886.html

                               
      For past news/public releases view our News Archive
                                  
                       
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QUES News: Quarterly Report (10-q) 11/19/2018 05:00:47 PM
QUES News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 11/14/2018 05:32:49 PM
QUES News: Statement of Changes in Beneficial Ownership (4) 10/11/2018 05:06:54 PM
QUES News: Statement of Changes in Beneficial Ownership (4) 10/11/2018 05:04:28 PM
QUES News: Initial Statement of Beneficial Ownership (3) 10/11/2018 05:03:09 PM
News News Alert: Quarterly Report (10-q) 11/19/2018 05:00:47 PM
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#3715  Sticky Note QUES is breaking out. But check out some RyGuy 03/21/18 12:04:18 PM
#3861   Quest Solution Reports $42M in Revenue for First EZ2 11/20/18 10:17:29 AM
#3860   Quest Solution reports Q3 results goforthebet 11/20/18 09:29:14 AM
#3859   https://seekingalpha.com/filing/4244003 goforthebet 11/20/18 02:01:42 AM
#3858   Check out the third q LOOK CLOSELY This will be windough-shopper 11/19/18 07:27:43 PM
#3857   LOL yup! stlogic 11/15/18 04:41:42 PM
#3856   you mean the 4th Q windough-shopper 11/15/18 04:08:54 PM
#3855   Nobody is “creating a market” or directly marketing 1120PC 953d 11/15/18 04:01:38 PM
#3854   it is ob·scene that with news like this windough-shopper 11/15/18 03:54:43 PM
#3853   LOL thanks and good luck. Its encouraging to renaissance1 11/15/18 02:48:37 PM
#3852   It did go down with the good news bakersson 11/15/18 11:53:55 AM
#3851   Todays New contract with Brazil stlogic 11/15/18 10:44:13 AM
#3850   yep ;) goforthebet 11/15/18 09:42:10 AM
#3849   $QUES no idea what this means, but it windough-shopper 11/15/18 09:40:55 AM
#3848   Quest Solution Receives Order for AI-Based “Visual Cortex” goforthebet 11/15/18 09:02:53 AM
#3847   It would be nice to break this .30 renaissance1 11/13/18 08:50:25 PM
#3846   Listen to ZBRA CEO talk about some QUES stlogic 11/13/18 08:01:06 PM
#3845   .65? Lets do $2.00 stlogic 11/01/18 08:14:09 PM
#3844   And the volume is saying a breakout is windough-shopper 11/01/18 07:29:19 PM
#3843   Looks Like we are officially in The AI biz stlogic 11/01/18 07:17:25 PM
#3842   Quest Solution Enters Airport Parking Vertical Using AI-Based Technology EZ2 11/01/18 09:50:23 AM
#3841   Past week or so Volume has tripled or so We windough-shopper 10/31/18 07:06:35 PM
#3840   https://www.otcmarkets.com/stock/QUES/news/Quest-Solutions-CEO-Interviewed-Live- goforthebet 10/29/18 02:56:44 PM
#3839   I understand. thanks you renaissance1 10/28/18 06:15:53 PM
#3838   I have seen that before. it´s when a goforthebet 10/28/18 03:48:38 AM
#3837   I have never heard of that but I renaissance1 10/28/18 12:09:53 AM
#3836   maybe someone agreed to buy 1 million shares goforthebet 10/27/18 03:14:50 AM
#3835   that was weird. What the heck was that renaissance1 10/26/18 10:46:35 PM
#3834   That was crazy... RyGuy 10/26/18 03:39:48 PM
#3833   wow, 1 million shares sold into the bid. goforthebet 10/26/18 03:31:29 PM
#3832   Any whales out there? There is an opportunity RyGuy 10/26/18 02:28:32 PM
#3831   It’s Moodsad.. silent but there .,really it is 1120PC 953d 10/26/18 01:09:15 PM
#3830   http://www.questsolution.com/quest-solution-announces-the-acquisition-of-hts-ima RyGuy 10/26/18 10:53:12 AM
#3829   holding nicely but would be nice to see renaissance1 10/25/18 09:05:13 PM
#3828   very good news! goforthebet 10/12/18 02:36:30 AM
#3827   hope so. looking forward to seeing what and renaissance1 10/11/18 07:25:48 PM
#3826   solid margins CEO must see synergies stlogic 10/11/18 11:17:38 AM
#3825   Quest Solution Announces the Acquisition of HTS Image deri21 10/11/18 09:46:38 AM
#3824   wonder what is going on with this company? renaissance1 10/05/18 08:34:25 PM
#3823   I agree. it´s amazing that some stocks don´t goforthebet 09/16/18 01:46:40 AM
#3822   I am surprised this news didn't get more renaissance1 09/15/18 07:22:18 PM
#3821   yes, sounds really good goforthebet 09/15/18 04:59:17 PM
#3820   Seems like this is very big news. Adds renaissance1 09/15/18 04:35:36 PM
#3819   very good news. goforthebet 09/15/18 11:41:43 AM
#3818   Quest Solution Breaks Into Transportation Logistics Market With RyGuy 09/14/18 05:09:24 PM
#3817   Nice news... It is not hitting the PR RyGuy 09/14/18 05:01:40 PM
#3816   looks like someone took a nice position today renaissance1 08/28/18 05:40:37 PM
#3815   I am worse than you in reading this goforthebet 08/22/18 12:23:41 AM
#3814   Ok so I am not a CPA or renaissance1 08/21/18 11:10:08 PM
#3813   Quest Solution, Inc. (QUES)FORM 10-Q / Quarterly Report goforthebet 08/21/18 04:13:40 AM
#3812   amazing. thanks for that work. hopefully we will goforthebet 08/06/18 01:14:09 PM
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