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Asure Software's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ASUR

But we are also in the middle of delivering those results. We closed on an acquisition of PeopleCube in the first week of July. So a lot of our activity was moving forward with the PeopleCube. I will say and I will talk a little bit more about this later, but the integration efforts are going extraordinary well. We are very pleased with the culture of the employees, the clients, the synergies are immense and we think that that’s going of to a very, very quite start.

We also in the quarter, I would like to remind you, we have a three for two stocks split on May 1 and we did that because we did hear for you that you’d like to buy more stock and you wanted more stock available and some of you were saying that the float ultimately should be around 10 million shares. Now we are about 5 million or so, a little bit more than that and the stock continues to progress. We will be open to stock split in the future.

Also we made great progress organizationally. We had to prepare for the acquisition of PeopleCube and we did that. We did close India and in the process of closing that we took a charge and we thought that was the right think to do. We are centering around Austin, Texas and the greater Boston areas, including Warwick, Rhode Island.

We also made great progress this quarter in our products. From a AsureForce perspective we rolled out our new version, our SAP version, version 11. We had clients that signed up and we also rolled that out to our partner programs, so we are excited about that progress and we think the results will enable us to hit third and fourth quarter where we have a big revenue ramp and we feel really good about the challenge of that revenue ramp.

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