Asure Software, Inc. (ASUR) Q4 2011 Earnings Call March 29, 2012 11:00 a.m. ET Executives Cheryl Trbula – IR Pat Goepel – CEO Dave Scoglio – CFO Analysts Thomas Pfister - RedChip Presentation Operator
I would like to now turn the call over to Pat Goepel, CEO of Asure Software. Pat?Pat Goepel Thanks Cheryl and I’d like to welcome investors, clients, employees, potential investors and otherwise interested parties in our fourth quarter conference call and also the 2011 year-end review. We will get to the fourth quarter results in a minute but first, I’d like to take just a short moment and talk about the results of 2011. As we closed the chapter of 2011, history will show that 2011 was the year Asure moved from a turnaround story to a growth story. The turnaround is now largely complete and we’re going to grow the business. Several events in 2011 solidified the foundation of growth. First of all, we completed our management team makeover. As you recall throughout the year we hired Steven Rodriguez as our Chief Operator Officer. And Steven has ducked in and done a tremendous job with the company. Mike Kinney is now the Senior VP of Sales. He’s done a great job for us in the sales area. We revamped our sales area and brought sales in-house throughout the year, largely in the second quarter timeframe and Mike has lent a tremendous effort. Christian Cowan, heading up Marketing with our acquisition of ADI, has done a great job in the marketing side and he is a fantastic leader for the marketing group. And Todd Giaquinto who has been our VP of Development has done a phenomenal job, and we are really excited to have Todd as part of the family. So in addition to the management team we felt like we really strengthened it throughout 2011. We’re happy with the backgrounds. We’re happy with the work that they’ve done, and it makes it for a much stronger Asure going forward.
We also acquired two companies in 2011 and in the fourth quarter is that ADI -- the acquisition of ADI and the acquisition of Legiant really has bolstered our position in the workforce market. And in time and attendance market it brought us new products, new talent, new development, new clients, and we have a lot to work with as we move forward. And the results in the fourth quarter paid off as well as 2012 looks very exciting because of those acquisitions.In addition to that, we streamlined our office locations. When I first started, we were in three countries and four facilities. Largely we are in two facilities. We are in Warwick, Rhode Island and Austin, Texas. We’ve now closed Vancouver, Canada as well as Mumbai, India. And for our size and where we’re trying to go, the streamlining those two office locations has been important aspect for us. We introduced a new SaaS platform or cloud-based platform and we spent a lot of time fixing and integrating the current platforms to the cloud. And that has done well for our clients, our employees, our net profit margin going forward and it’s given us a foundation of growth. We introduced a mobile strategy in 2011 for our clients. We have beta customers who’re ready on our service, and we think that will be a foundation for growth going forward. We also -- with the acquisition of ADI, we acquired new clock technology and our clocks did very well in selling in the fourth quarter as well as given some foundation for growth in 2012. We also spent some time with the community, and I think a good company spends time motivating employees and getting the best talent in the world. We get the best clients in the world, and we also have to be good in the communities we serve. And in the community we serve, just one example of that is we had a sales kick-off and the employees had a bill bites (ph) for the Riverside youth foundation and that was a great team building exercise of the employees, and it was a great give-back for the community. So as part of that is the results that we have. Read the rest of this transcript for free on seekingalpha.com