Asure Software's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Asure Software, Inc. (ASUR)

Q4 2011 Earnings Call

March 29, 2012 11:00 a.m. ET


Cheryl Trbula – IR

Pat Goepel – CEO

Dave Scoglio – CFO


Thomas Pfister - RedChip



Good day ladies and gentlemen, and welcome to the Asure Software Corporate Conference Call. My name is Karen, and I’ll be your operator for today. At this time, all participants are in a listen-only mode. We will facilitate a question-and-answer session towards the end of today’s presentation. (Operator Instructions)

I would now like to turn the call over to Cheryl Trbula of Asure Software. Ma’am, please proceed.

Cheryl Trbula

Thank you, Karen and welcome everyone to Asure Software’s conference call. Before we start, I’d like to mention that some of the statements made by management during this call might include projections, estimates, and other forward-looking information. This will include any discussion of the company’s business outlook. These particular forward-looking statements and all of the statements that may be made on this call that are not historical are subject to a number of risks and uncertainties that could affect their outcomes.

You are urged to consider the risk factors relating to the company’s business contained in our latest periodic reports on file with the Securities and Exchange Commission. These risk factors are important, and they could cause actual results to differ materially.

This call is also being recorded on behalf of Asure Software and is copyrighted material. It cannot be recorded or rebroadcast without the company’s expressed permission and your participation implies consent to the call’s recording. After we’ve completed our review of the quarter, we’ll open up the call for questions from the financial analyst community.

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.

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