Digicon Corporation

Vice President and Chief Financial Officer

Brought into this government IT services company to help improve the bottom line, and increase shareholder value.

• Redesigned indirect rate and bidding structure to more closely conform to business operations, thus improving the accuracy and competitiveness of proposals and the proposal win rate.
• Negotiated very favorable medical coverage terms. Saved the company over $750 thousand over two policy years.
• Implemented cost savings which improved profitability.  Reduced Days Sales Outstanding and improved cash flow.
• Developed a comprehensive financial reporting package giving more timely and accurate financial data.
• Created a small business joint venture which quickly won two IDIQ contracts with a total value of as much as $33 billion.

Proxy Aviation Systems, Inc.

Executive Vice President and Chief Financial Officer

Partnering again with the same CEO from the two previous companies, I was brought in to help bring this innovative unmanned aerial systems defense company to a level of sustaining revenue; and extract maximum value for the investors

• Designed indirect rate and bidding structure conforming to FAR requirements.
• Renegotiated contracts, resulting in increased cash inflows and reduced cash outflows.
• Worked closely with investor group to ensure timely and accurate reporting to the Small Bus. Invest. Co. (SBIC) program.

Kforce Government Solutions, Inc.
(division of Kforce, Inc.)

Senior Vice President and Chief Financial Officer

Brought in to this company by the former CEO of previous company to merge and integrate together two separate defense and government services companies acquired in 2006. Completed the merger, integration, and upgrade of these systems into a single unified system (Deltek Costpoint) within seven months. 

• Redesigned business processes and operations to initiate new rates and pricing structures. Pricing strategy improvements resulted in additional new business. Year over year revenue increased by 18%, with a pretax profit rate in excess of 20%.
• Reduced Days Sales Outstanding by over 30%. Cash flow from operations increased significantly.
• Implemented new tools and metrics to identify project issues and low performing projects. Implemented changes improving profitability of the lowest performing division by 80%.
• Implemented a pricing intelligence function to ensure a “best practices” and “must win” strategy. Once implemented, no award was lost due to price.
• Performed intensive due diligence on several acquisition candidates. Process culminated in acquisition of a complementary defense and government services company in December, 2008. Acquisition increased company size by 40%.

Ocean Systems Engineering Corporation

Chief Financial Officer

Reported to the President at this defense systems IT and engineering services company. Company sold in May 2006 at high multiple.

• Guided the company through 225% growth in revenue while increasing company value by 400% and cash flow from operations by 1800%.
• Negotiated a 250% increase in bank line of credit with improved terms – no personal guarantees, lower rates and fees.
• Initiated new indirect rate and pricing structures resulting in the award of over $100 million in new contracts.
• Restructured bonus plan, concentrating on growth and profitability. Once implemented, revenue increased by 40% and profitability increased by more than 100%.
• Created a budget review and analysis routine, resulting in greatly improved accuracy. Achieved 99% budget accuracy.
• Designed, developed and implemented a company ESOP and a restricted stock plan.
• Developed a comprehensive financial reporting package giving more timely and accurate financial data. Reengineered the close process, reducing the close time by 50%.
• Set up, and served as treasurer for, a company sponsored Political Action Committee.
• Directed the due diligence process related to the company sale. The deal was closed with very favorable terms to the selling shareholders. Key player in the integration process of merging the companies together post acquisition.

Science and Applied Technology, Inc

Director of Finance

• Completed the conversion of a legacy financial system into a comprehensive Enterprise Resource Planning system.
• Created a budget review and analysis routine, resulting in greatly improved accuracy. Using this, and proactive management, met the year-end indirect rate targets with 99% accuracy.
• Selected and hired an investment banking firm to find a buyer when the owner desired to sell the company. Negotiated a $750 thousand reduction in associated fees.
• Directed the due diligence process with a greatly accelerated timetable. Likely buyers were identified, and the final sale negotiated and completed, in less than 75 days.

Areté Associates

Vice President of Finance (promoted from Director of Finance in 1999 and Controller in 1994)

• Negotiated a 100% increase in the bank line of credit with lower rates and fees
• Saved $2.1 million through cost control and tax planning measures
• Engineered G.A.A.P. compliant systems and procedures. 12 consecutive year end audits resulted in no proposed adjustments by the outside auditors.
• Completed multiple IRS audits with no adjustments.
• Increased cash flow by managing invoicing and cash receipt process. Majority of receivables collected within 30 days.
• CAS and FAR expert. Resolved all findings by DCAA auditors in the company’s favor.
• Planned and implemented all financial reporting and consolidation requirements for two commercial subsidiary companies.
• Implemented new financial software system. Project completed in budget and on time.