Herndon, VA – March 12, 2010
– Apptix (OSE: APP), the leading provider of hosted Microsoft Exchange email
, Microsoft SharePoint, and VoIP services
for businesses worldwide, today announced that the company’s Chief Financial Officer, Chris Mack, has been named to Washington SmartCEO Magazine’s 2010 SmartCFO list.
SmartCFOs are recognized for the crucial role they play in the success of their business – making decisions to help their companies excel. Washington SmartCEO Magazine recognizes CFOs who have gone above and beyond to maintain the financial integrity of their company.
Over the last two years as CFO of Apptix, Mack has proved himself a master of executive leadership, financial management, and resourceful financing. In spite of the difficult financial climate, Mack completed two equity placements, restructured the company’s working capital facilities, and secured capital lease financing to fund Apptix’s growth strategy.
Mack’s leadership has lead to a significant transformation in Apptix’s profitability position including:
Six consecutive quarters of increasing positive EBITDA
Positive EBIT in Q4 2009
Overall positive cash flow in Q4 2009 (excluding the redemption of a convertible bond)
2009 year-to-date positive cash flow from operations
“We are thrilled that Chris’s hard work has been recognized and earned him a listing as one of Washington’s SmartCFOs,” says Dave Ehrhardt, President & CEO of Apptix. “He and the team he installed have worked diligently to not only weather the economic downturn but also to fund our expansion initiatives, streamline the business from top-to-bottom, instill a culture of operational excellence, and drive Apptix to profitability.”
All SmartCFOs will be profiled in the April issue of Washington SmartCEO Magazine and recognized at an awards event on April 21, 2010. The SmartCFOs will also be listed on www.smartceo.com