Asure Software Reports Strong Second Quarter 2010 Results

Asure SoftwareAsure Software Reports Strong Second Quarter 2010 Results Revenues Increase 13% Over Prior Year Second Quarter; EBITDA Increases to $0.15/Share, GAAP Net Income Increases to $0.06/Share, Excluding 1-Time Items; Expect Further Revenue Growth, Earnings Growth, and Cash Generation in Q3 and Q4

AUSTIN, TX, Aug 11, 2010 (MARKETWIRE via COMTEX) —

Asure Software, Inc. (NASDAQ: ASUR), a leading provider of workforce management software, announced results for the second quarter ended June 30, 2010.

Second quarter revenue increased 13% over the comparable period in 2009 as the NetSimplicity business grew 23% and iEmployee grew 5% on a year over year basis. EBITDA, excluding 1-time charges consisting primarily of the buyout of our Austin headquarters lease in Q2, increased to $0.5 million vs. a loss of ($1.0) million in the comparable period in 2009. EBITDA is provided as a performance metric indicative of cash flow because Asure’s business has low capital expenditure requirements, no debt related interest expense, and minimal cash taxes driven by our net operating losses (“NOLs”); which are in excess of $100 million. Net income of $0.2 million, or $0.06 per share (excluding 1-time items) increased vs. a loss of ($1.3) million, or ($0.42) per share, in the same 2009 period. Total operating expenses, less 1-time charges, declined by (36%), or ($1.1) million, vs. the comparable period in 2009.

Pat Goepel, Asure’s Chief Executive Officer, remarked: “We are pleased with our second quarter results and the direction of Asure as we move forward. During Q2, we successfully bought out our Austin headquarters lease, continued to manage costs, grew the business, and delivered operating performance to the bottom line in the form of $0.15/share in EBITDA excluding 1-time items. Importantly, we also reduced our customer risk by converting substantially all of our Ceridian customers into direct contracts. As a result of this conversion effort, our largest customer in terms of % of revenue has been reduced from approximately 20% in the second quarter to approximately 1.5% as of August 1, 2010. Lastly, Asure sold off the last remnants of its intellectual property portfolio, solidifying its desire to focus solely on its software product lines.”

Continued Mr. Goepel, “We believe we have stabilized the business and think we can continue to grow revenues and earnings through the remainder of 2010 and in 2011. With a clean balance sheet and a growing cash balance, we are also now starting to consider strategic transactions where we see synergies from both operational and tax perspectives (using our NOLs). We are taking additional steps in the third quarter to streamline our R&D and Customer Support organizations and free up expenses as we further invest in our future product and platform architecture. Progress towards a state-of-the-art, highly scalable infrastructure will enable Asure to execute against its acquisition strategy and maximize shareholder value through scalability, rapid revenue growth, and the use of our tax assets. The Board and I, as large shareholders ourselves, are focused on increasing shareholder value and hope to continue to report positive results in upcoming quarters.”

Asure’s Chief Financial Officer, David Scoglio, added: “With the early Q2 $1.5 million Austin lease termination fee and the Ceridian conversion behind us, we expect to grow and recover cash, and are committed to achieving forecasted positive core business earnings (see below 2010 Outlook). We expect additional 1-time costs in the third quarter driven by reductions in staff related to strategic outsourcing and moving expenses related to both our Austin, Texas and Vancouver, Canada offices. We expect that these 1-time costs will be greatly reduced from those in Q2 and will result in a reduced cost structure and a simplified business going forward. At this time, we are not anticipating any material 1-time costs in the fourth quarter.”

2010 OUTLOOK                                  Q3                Q4
                                       -----------------  -----------------
  Austin/Vancouver Site Strategy        ($0.04 - $0.05)         n/a
  Core Software Business                 $0.05 - $0.10      $0.08 - $0.12
 Net Earnings Per Share                  $0.01 - $0.05      $0.08 - $0.12

Conference Call Details

Asure Software has scheduled a conference call for Wednesday, August 11, 2010 at 11:00 a.m. ET (10:00 a.m. CT) to discuss its most recent financial results and outlook. Participating in the call will be Pat Goepel, Chief Executive Officer, and David Scoglio, Chief Financial Officer.

To participate, please dial 800.299.8538 ten minutes before the conference call begins, ask for the Asure Software event and use pass code 89424981. International callers should dial 617.786.2902 and reference the same pass code, 89424981. Investors, analysts, media and the general public will also have the opportunity to listen to the conference call in listen-only mode via the Internet by visiting the investor relations page of Asure’s web site at http://www.asuresoftware.com. To monitor the live call, please visit the web site at least 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, an archived replay will be available shortly after the call on the investor relations page of the Company’s web site at http://www.asuresoftware.com.

About Asure Software, Inc.

Headquartered in Austin, Texas, Asure Software, Inc. (ASUR), empowers small to mid-size organizations and divisions of large enterprises to operate more efficiently, increase worker productivity and reduce costs through a comprehensive suite of on-demand workforce management software and services. Asure’s market-leading suite includes products that optimize workforce time and attendance tracking, benefits enrollment and tracking, pay stubs and W2 documentation, and meeting and event management. With additional offices in Warwick, Rhode Island, Vancouver, British Columbia, and Mumbai, India, Asure serves 3,500 customers around the world. For more information, please visit www.asuresoftware.com.

Dell Streak available on August 13th 2010

Earlier this month we wrote about the Dell Streak missing the July 2010 release date. Today, we just learn that the Dell Streak will be available for purchase by pre-sale registrants Thursday, August 12th. General availability follows a day later. By signing up for our email notification, you will be part of an exclusive 24 hour pre-sale opportunity. You can be among the first to own a Dell Streak! You will also be given a FREE upgrade to 2nd Business Day shipping with your purchase of a Dell Streak PLUS an exclusive coupon code for a 99¢ Plantronics Bluetooth Headset with purchase of a Dell Streak.

Update: Here’s a short video from the Dell YouTube channel that provides a quick overview of what you can use Streak for:

Hardware-wise, the Dell Streak features the following:

  • A sharp 5-inch capacitive multi-touch WVGA (800×480) display for a great full-screen experience watching video or browsing the web
  • Fast 1GHz Snapdragon ARM-based mobile processor from Qualcomm
  • 5 MP autofocus camera with dual LED flash that offers easy point & shoot capability and quick uploads to YouTube, Flickr, Facebook and more
  • VGA front-facing camera enables video chat functionality down the road
  • A user-removable (and replaceable) battery
  • A 3.5mm headphone jack means many of you can use the Dell Streak as the music source (and more) in your car
  • Integrated 3G + Wi-Fi (802.11b/g) + Bluetooth 2.1 (think headsets, external keyboards, stereo headsets, etc.)
  • UMTS / GPRS / EDGE class 12 GSM radio with link speeds of HSDPA 7.2 Mbps / HSUPA
  • A user-accessible Micro SD slot expandable up to 32GB. That means you can store  lots of movies, music, photos or other kinds of files.

On the software side, here’s what you can expect:

  • A customized multi-touch version of the Google Android operating system that features Dell user interface enhancements
  • Access to over 38,000  apps (and growing) via the Android Marketplace
  • Microsoft Exchange connectivity and integration through TouchDown
  • Google Voice support
  • Integrated Google Maps with voice-activated search, turn-by-turn navigation, street and satellite views
  • Quick access to activity streams via integrated social network app widgets like Twitter, Facebook, YouTube

Interested? Click here to sign up for a Dell Streak pre-sale opportunity

Southwest Airlines to add a new Nerd Bird, Austin-San Jose

Southwest Airlines will add an Austin-San Jose nonstop flight on Nov. 7, joining Alaska Airlines and JetBlue as carriers on a route popular with Austin techies.

JetBlue does not have an Austin-San Jose route but its Austin-San Francisco flight is close enough for many to consider when visiting the valley.

Introductory fares are as low as $79 each way for flights purchased by Thursday for travel between Nov. 7 and Dec. 14, excluding a blackout period around Thanksgiving.

The weekday flights will depart Austin at 7:55 a.m. and 3:55 p.m. daily. The return flights leave San Jose at 10 a.m. and 6:20 p.m.

This is a great addition and is widely welcome by the startup community in Austin. The competition that this will create between these airlines will only help to everyone looking to fly from Silicon Hills to Silicon Valley.

Book your flight now

The Dell Streak Tablet missed the July 2010 release date

It looks like we’ll have to wait a little longer for the Dell Streak. In the past few days, information about the Dell Streak arriving in July, 2010 was removed from Dell’s website. A Dell spokesman confirmed last Wednesday that the device will not arrive in July, but it is still on schedule to be released “later” this summer.

Dell confirmed that the Dell Streak will be shipped soon and that it will in fact still launch with Android 1.6 as the operating system.

The Dell Streak is a tablet PC and has a five-inch touch screen and doubles an Android smart phone. Some reports have estimated the cost between $300 if you get it with an ATT plan and $550 without it.

Click here to see a Dell Streak Tablet video

Dell Streak Tablet

Austin Technology User Groups and Organizations

Austin is a great town to live and work, there are many technology companies and organizations which make Austin, TX what it is, a great place for technology startups, companies and people looking to work in this industry.

I prepared a partial list of technology related user groups and organizations to help Austinites and newcomers become familiar with these organizations which can help you find that next great gig, network with people who share the same interest as you do and also help you shape up your skills. Most of this user groups have regular meetings, make sure you visit their site to learn more about them and join them as members and/or volunteers if you do desire to do so.

If you know of a user group or organization that should be in this list, please add the name and a link to their site for everyone to see. Thanks.

Austin .NET User Group
ADNUG brings Austin’s .NET community together with industry experts and guest speakers in a forum to promote an exchange of knowledge and experiences with the .NET platform, application development, tools, and practices.

Austin On Rails
Austin’s Own Ruby On Rails User Group

XML Austin User Group
The XML Austin Users Group promotes sharing of knowledge among local developers who use XML and related technologies. Our focus is on serious technical discussion among peers.

Austin Java Users Group
The Austin Java Users Group brings together Java developers in the Austin area to share ideas, discuss advances in technology and generally promotes the use of Java.

Austin Linux Group
ALG is a non-profit organization dedicated to providing education about the installation, usage, and maintenance of the GNU/Linux operating system.

Austin’s Premier Macintosh User Group
Capitol Macintosh is a nonprofit organization founded in July of 1993 by Austin Macintosh professionals and enthusiasts to help fellow Mac users get more enjoyment and productivity from their Macintosh computers. Put simply, CapMac is friends helping friends learn about Macs.

Austin Common Standards Revision Group
The Austin Common Standards Revision Group (CSRG) is a joint technical working group established to develop and maintain the core open systems interfaces that are the POSIX® 1003.1 (and former 1003.2) standards, ISO/IEC 9945 parts 1 to 4, and the core of the Single UNIX Specification

The Robot Group
They are a very active 501(c)(3) non-profit corporation which holds weekly meetings to discuss projects, show off our work, and meet people like you

Agile Austin
Agile Austin’s mission is to promote agile software development concepts such as those set forth in the Agile Manifesto (agilemanifesto.org), to create a public forum for the exchange of practice information, and to create opportunities for the professional development of members.

Bootstrap Austin
Bootstrap Austin is a community in the Austin Entrepreneurship Scene (#ATXentScene twitter hashtag and twitter list). In addition to supporting bootstrap entrepreneurs, we arecommitted to stewarding this vibrant scene so entrepreneurs ofall paths can find the resources and support they need to progress through all stages of the journey.

Austin High-Tech Online
door64 is community of thousands of Central Texas high-tech professionals. The goal of this community is to promote peer network growth in Texas technology professionals, enable both start-ups and established companies to amplify their local presence, and help all members to plug in and strengthen our local high-tech scene.

Austin Semiconductor Entrepreneurs Network
The vision of AustinChips is to develop a vibrant and cross-connected community of semiconductor professionals by bringing together entrepreneurs from large and small companies.

Austin Local Internet Society
The purpose of ALIS is to increase and encourage communication between people with interests in computers and technology on a real-time, physical, face to face basis. This includes you: programmers, writers, artists, consultants, cypherpunks, email fanatics, activists, hackers, usenet news readers, frustrated computer users, etc.

Austin Software Process Improvement Network
The Austin SPIN (Software Process Improvement Network) is a forum for the free and open exchange of software process improvement ideas and experiences. The organization serves as a source of educational, scientific, and practical information for its members, other SPIN organizations and the general software community.

Capital Area Central Texas Unix Society
CACTUS is a group of mostly computer professionals and students. The purpose of the group is to educate and connect people interested in Unix and Open Systems related topics

Society for Technical Communication (Austin chapter)
STC is an individual membership organization dedicated to advancing the arts and sciences of technical communication

Technology Innovation Group
TIG creates public-private partnerships to establish technology-based enterprises that are critical for economic growth

Austin UX
User experience, interaction design and other design-related activities

UXBookClub Austin
The UX Book Club Austin seeks to enhance the abilities and knowledge of user experience professionals from information architects and interaction designers to visual designers and usability specialists to augment their understanding for excellence in UX practice, ixd design theory while building a passionate local community.