Beacon Enterprise Solutions Discusses Personnel Changes and Outlook for Q2 and
LOUISVILLE, Ky., April 11, 2012
LOUISVILLE, Ky., April 11, 2012 /PRNewswire/ --Beacon Enterprise Solutions
Group, Inc. (OTC BB: BEAC) (www.askbeacon.com), an emerging global leader in
the design, implementation and management of high performance Information
Technology Systems (ITS) infrastructure solutions, today discussed a
transition in the Company's growth focused leadership team and anticipated
results for the most recent and upcoming quarter.
With the recent announcements of the departure of Jerry Bowman, former
President and COO, and the additions of Paris Arey, EVP of Sales and Marketing
and Michael Martin, EVP of Global Services, Beacon has assigned Jerry's prior
responsibilities to two highly qualified executives. Paris is now accountable
for global sales, marketing and business development, while Mike will lead
global operations, which includes the delivery of major ITS projects,
outsourcing, and managed services. Together, these changes bring increased
capabilities and focus on sustainable growth for our shareholders and
quantifiable business impact for our customers.
Paris Arey is an international ITS sales executive with over 30 years of
experience in leading high performance teams with global sales and operational
expertise that will extend Beacon's sales growth and reach. Mike Martin is
also an experienced ITS industry veteran as well as decorated former officer
of the U.S. Coast Guard, with a strong background in professional services
operations and business development that will bring additional depth to
Beacon's executive team.
"While these leadership changes are very positive and will enable Beacon to
better capitalize on available market opportunities going forward, our fiscal
Q2 business experienced project delays that will negatively impact our results
for the quarter ending March 31, 2012," stated Bruce Widener, Chairman and CEO
of Beacon. "Although financial statements for the quarter are not yet
complete, we expect to see an isolated revenue shortfall for the quarter of
approximately 35% versus the same period last year. We plan to report full
quarterly results on or before May 14, 2012. With solid management controls
in place, we have taken the necessary actions to successfully manage through
the temporary decline in revenue, while effectively servicing all of our debt
obligations and continue to focus resources on business development and
delivering quality service to our customers."
"Our current quarter outlook for fiscal Q3 (ending June 30, 2012) has customer
orders already returning to approximately fiscal Q1 revenue levels," continued
Mr. Widener. "In addition, we expect the implementation of projects delayed
in fiscal Q2 and new projects resulting from the continued refinement of our
value proposition and increased sales activity to allow us to resume and
maintain our historical double-digit growth rate for this year and beyond."
"In the current quarter, we're already seeing an increase in client activity
as they focus on acquisition-based integration efforts and the resulting ITS
infrastructure requirements. We're also seeing an increase in large project
proposals for existing and new Fortune 1000 clients. As we look forward, we
are optimistic about the added strength of our growth focused leadership team
and are encouraged by the demand we're seeing in the market and the business
drivers that continue to increase the value and relevance of Beacon's
solutions," concluded Mr. Widener.
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 a regional headquarters in Dublin,
Ireland, Prague, Czech Republic and personnel located throughout the United
States and Europe.
For additional information, please visit Beacon's corporate website:
This press release may contain "forward-looking statements." Expressions of
future goals and similar expressions reflecting something other than
historical fact are intended to identify forward-looking statements, but are
not the exclusive means of identifying such statements. These forward-looking
statements may include, without limitation, statements about our market
opportunity, strategies, competition, expected activities and expenditures as
we pursue our business plan. Although we believe that the expectations
reflected in any forward looking statements are reasonable, we cannot predict
the effect that market conditions, customer acceptance of products, regulatory
issues, competitive factors, or other business circumstances and factors
described in our filings with the Securities and Exchange Commission may have
on our results. The company undertakes no obligation to revise or update any
forward-looking statements in order to reflect events or circumstances that
may arise after the date of this press release.
Bruce Widener, CEO
Porter, LeVay & Rose, Inc.
Marlon Nurse, V.P. – Investor Relations
Halliburton Investor Relations
Geralyn DeBusk, President, or Hala Elsherbini, COO
SOURCE Beacon Enterprise Solutions Group, Inc.
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