Beacon Solutions provides information transport system technology to our clients world-wide. We specialize in delivering professional services such as design and engineering, site assessments and documentation, ITS construction management, and customer support services to a diverse range of clients in manufacturing, retail, and utilities.
Headquartered in Louisville, Kentucky but with offices and employees working around the globe Beacon Solutions is meeting the challenges its clients are facing with reduced budgets and manpower to deliver the services their companys' demand.
Beacon Solutions was formed by the merger of four independently successful companies in the IT and Telecom service sectors. These organizations came together to create a unique, fully integrated, single source IT/Telecom company.
Today, Beacon Solutions is a leading provider of technology and telecommunications services, from software development and infrastructure design to interconnect voice/data and systems integration.
For over 30 years, our team has enabled companies in a variety of industries to dramatically reduce costs, improve product quality, and enhance overall corporate performance. We offer complete, integrated solutions to our clients that leverage best-in-class products and services to inspire confidence in a connected world.
Today more than 4,000 companies, from small businesses to Fortune 500 firms, have chosen Beacon, including: Merck & Co., UPS, Volvo, Gap Inc., Papa John's, Nationwide, Mack Trucks and LensCrafters. Beacon's end-to-end, industry-specific solutions drive increased efficiency, build competitive advantage, and help companies become more innovative.
Headquartered in Louisville, Kentucky, Beacon maintains offices in Cincinnati, Ohio; Columbus, Ohio; Mangalore, India and services clients globally.
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Mr. Widener founded Beacon in 2007 and possesses over 20 years of industry experience. He previously served as Senior Vice President of Corporate Development and was one of the founding employees of UniDial Communications / Lightyear Network Solutions, a private company that grew from start-up to over $220,000,000 in sales within six years. At Lightyear, Mr. Widener’s responsibilities included Product Development and IT as well as Mergers & Acquisitions. He was the driving force behind several significant initiatives, including the Company’s unique authorized agent program and its entrée into the Local, Data and most recently VoIP markets. Prior to joining Lightyear, Mr. Widener held positions at WorldTel Services, LiTel/LCI International and Charter Network Jerry L. Bowman, RCDD, RTPM(i) NTS, CISSP, CPP, CSI President and Chief Operating Officer
Mr. Bowman joined the Beacon team in 2009. With over 25 years of industry experience, he previously served as a Managing Director and VP for CommScope, a $4 billion manufacturer of connectivity solutions for commercial networks. Mr. Bowman serves on the BICSI Board of Directors and has previously served on the ISC Educational Advisory Board. He is BICSI certified RCDD, RTPM(i), NTS, CISSP, CPP, CSI. Mr. Bowman has served as a board member for industry associations and workgroups, and has been a featured speaker and thought leader for publications and organizations such as ASIS, BICSI, ISSA, and InfraGard. Victor Agruso Chief Administrative Officer
Mr. Agruso has worked with Beacon since 2009. He possesses more than 20 years of strategic planning, organization development, and talent management experience with emerging growth to Fortune 500 companies in diverse industries. Mr. Agruso previously held global human resources executive positions with Nike, Hallmark Cards, Humana, and Maritz; and is co-founder of PeopleStrategy, an HR software-as-a-service firm. He has also served as an advisor to other marquee public and private sector companies seeking to accelerate profitable growth strategies,- including Fidelity Investments, Amazon.com, Cigna, Peabody Energy, American Multi-Cinema, International Steel Group, Sigma-Aldrich, UtiliCorp United, and Sprint. Mr. Agruso holds two Master's degrees from Harvard University focused on organization and human resources development.
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BEAC .44x.45 up 12% News News Beacon Enterprise Solutions Provides Earnings Call Webcast for Fiscal 2011 Financial Results
-- Net Sales Increase 35% for The Year -- -- Operating Expenses Decline 12% for The Year --
LOUISVILLE, Ky., Dec. 14, 2011 /PRNewswire via COMTEX/ -- Beacon Enterprise Solutions Group, Inc. (OTCBB: BEAC) (www.askbeacon.com), an emerging global leader in the design, implementation and management of high-performance Information Technology Systems ("ITS") infrastructure solutions, today announces the publication of its webcast of the fourth quarter and Fiscal 2011 Earnings Call on the Beacon website. (Logo: http://photos.prnewswire.com/prnh/20101021/DA85933LOGO)
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.
For the 12 month-period ended September, 30, 2011, the Company reported a 35% increase in net sales to $18.9 million as compared to $13.9 million for fiscal year 2010. Fourth-quarter 2011 net sales were $5.4 million, a 26% increase compared to $4.3 million reported for the same period of 2010. The Company attributes the significant increases to its continued penetration into the North American and European markets, as well as its ability to deliver on expanded product and program offerings worldwide.
Gross profit for the 12 months of fiscal 2011 increased 14% to $6.7 million compared to $5.9 million reported for the 12-month period of 2010. Gross profit for the fourth quarter of 2011 increased 77% to $2.1 million compared to $1.2 million reported in the fourth quarter of the year prior.
Total operating expenses decreased in fiscal 2011 to $10.2 million, a 12% reduction compared to $11.6 million reported in fiscal 2010. Core operating expenses for the fourth quarter of 2011 decreased by 33% to $2.1 million from $3.1 million in the fourth quarter of 2010.
"Our ability to reduce our level of expenditures resulted from management's continued commitment to cost control and increased efficiency as well as scalability of our systems and office infrastructure. We expect this trend of improvements, along with revenue growth, to continue," said Scott Fitzpatrick, Beacon vice president corporate controller and treasurer.
Loss from operations decreased significantly in fiscal 2011 to $3.5 million from $5.7 million in fiscal 2010. 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.
Fiscal year 2011's basic and diluted net income per share was $0.09 compared to a loss of $(0.57) per share in the previous fiscal year. Fiscal 2011 was positively impacted by discontinued operations of $0.21 per share.
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," concluded 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."
About Beacon Enterprise Solutions Group, Inc.
Beacon Enterprise Solutions Group is an emerging global leader in the design, implementation and management of high performance Information Technology Systems ("ITS") infrastructure solutions. Beacon offers fully integrated, turnkey IT infrastructure solutions capable of fully servicing the largest companies in the world as they increasingly outsource to reduce costs while optimizing critical IT design and infrastructure management. Beacon is headquartered in Louisville, Kentucky, with regional headquarters in Cincinnati, Ohio, Dublin, Ireland, Prague, Czech Republic and personnel located throughout the United States and Europe.