Beacon Enterprise Solutions Group, Inc., an emerging global leader in the design, implementation and management of high-performance Information Technology Systems infrastructure solutions, today announced the publication of its webcast of the fourth quarter and Fiscal 2011 Earnings Call on the Beacon website.
The webcast of the Earnings Call can be located under the Investor Relations tab located at www.askbeacon.com. A digital recording of the conference call is also available via telephone for replay until 11:59 p.m. EST on Thursday, December 15, 2011, by calling 404-537-3406 and entering conference ID # 20119461.
Beacon Enterprise Solutions reported a 35% increase in fiscal year net sales; a 14% increase in fiscal year gross profit; and a 12% decrease in fiscal year operating expenses. For the fourth quarter ended September 30, 2011, the Company reported a 26% increase in net sales; a 77% increase in quarterly gross profit; and a 33% decrease in fourth-quarter operating expenses.
The Company achieved a major milestone by generating positive income from core operations during the fourth quarter of fiscal 2011 of $47,000, a nearly $2 million improvement compared to the loss of $1.9 million in the same period in fiscal 2010. Net loss per basic and diluted share was $(0.02) in the fourth quarter of fiscal 2011 compared to a net loss of $(0.09) per share in the same period in fiscal 2010.
“To summarize, year-over-year net sales and gross margin are both up, operating expenses and current liabilities are down, the cash position of the company is the best it’s been, we have replaced the short-term debt facility that was due to mature with a new facility, and for the first time in the Company’s history we have positive income from operations from our core business,” stated Bruce Widener, Beacon Chairman and CEO.
Beacon also reviewed its recent progress and achievements, including several new sales strategies that began in 2011. In addition, the Company refocused its sales efforts on higher-margin professional services business, redefined and documented its business processes, and implemented a new cloud-based ERP solution.
“We firmly believe the changes we’ve made in the past year provide for a more efficient method of operation and will meet the market opportunity and more importantly, specific, individual customer needs,” concluded Mr. Widener. “Our team is very pleased to deliver a clear picture of what we’ve been working on and how we are positioned for profitable, scalable growth in 2012.”
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