Capital Factory Demo Day 2010

Save the date, Capital Factory’s Demo Day 2010 is on September 8, 2010.

Capital Factory is an Austin startup incubator run by successful local entrepreneurs. In May, 2010, Inc magazine named Capital Factory as one of the best 20 business incubators in the United States.

At Capital Factory, 20 seasoned entrepreneurs invest $5,000 each in five promising start-ups (last year, 300 applied). Then, for 10 weeks, the fledgling ventures get free office space, legal advice, and help from 20 vets. Who gets in: Seed-stage companies, mostly in tech. Breakout company: SpareFoot, an online auction service for storage space. Revenue has been doubling monthly since September. Sigue leyendo

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

Is it time for a coworking space in the North Austin – Round Rock area?

Coworking spaces are the alternative to working in coffee shops or working at home. The idea is to offer a space to entrepreneurs where they can work in their businesses and at the same time enjoy resources usually not found at coffee shops such as power outlets, reliable and free WiFi, large working space (larger tables than those found in coffee shops) and the ability to socialize as well.

Here is the Wikipedia definition:

Coworking is a style of work which involves a shared working environment, sometimes an office, yet independent activity. Unlike in a typical office environment, those coworking are usually not employed by the same Citizen Space in San Francisco, CAorganization. Typically it is attractive to work-at-home professionals, independent contractors, or people who travel frequently who end up working in relative isolation. Coworking is the social gathering of a group of people, who are still working independently, but who share values, and who are interested in the synergy that can happen from working with talented people in the same space.

Some coworking spaces were developed by nomadic internet entrepreneurs seeking an alternative to working in coffee shops and cafes, or to isolation in independent or home offices. A 2007 survey showed that many employees worry about feeling isolated and losing human interaction if they were to telecommute. Roughly a third of both private and public-sector workers also reported that they didn’t want to stay at home during work. Coworking offers a solution to the problem of isolation that many freelancers experience while working at home, while at the same time letting them escape the distractions of home.

In Austin, we have Conjunctured, but there is nothing like it in North Austin – Round Rock. This area has grown significantly in the past few years, and it has a lot of potential for entrepreneurs, self-employed people and the like. The city of Round Rock is located 15 miles north of Austin. Round Rock is also the home of Dell computers and its combined property tax and utility rates are the lowest in the region.

There is also a “every-so-often casual” coworking group in the area that meets in various coffee shops around Round Rock, it is called Jelly in Round Rock. However, they don’t have a set place to gather, they try to meet weekly at coffee/sandwich shops.

I believe there is demand for a coworking space in this area, with the right space, the right location and the right price this can be done and will benefit all of us in North Austin. What do you think? please let us know your opinion and join the conversation.