Springfield, NJ. – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”), a systems integrator, today announced that it has refinanced its existing Credit Facility with PNC Bank, N.A., through its PNC Business Credit division, which provides asset-based lending. PNC Bank, N.A. is a subsidiary of The PNC Financial Services Group. In addition the Company announced an additional $3 million mezzanine investment by Peachtree Equity Partners, an Atlanta-based private equity firm specializing in subordinated debt and equity investments for middle market growth companies.
Dinesh Desai, Chief Executive Officer of Emtec, commented, “We
Springfield, NJ. – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”) announced today that for the quarter ended November 30, 2012, its gross profit from Consulting and Outsourcing grew by 6.0% versus the first fiscal quarter of last year to $6.5 million, and total gross margin increased from 16.5% for the quarter ended November 30, 2011 to 18.0% for the quarter ended November 30, 2012. The Company also reported Adjusted EBITDA, which is defined by management as net income (loss) before interest, taxes, depreciation, amortization, retention bonuses, stock-based compensation, severance,
Springfield, NJ. – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”), a systems integrator, announced that it has appointed two new members to the Board of Directors of the Company effective December 1, 2011. The two new members, Chris Formant and Sunil Misra, will join the four existing members to bring the board membership to six, three of whom are independent.
Chris Formant is currently a Senior Vice President of Avaya Inc. and President, Avaya Government Solutions, a position he has held since August 2010. He joined Avaya in February 2008.
Chicago, IL. – Emerging Solutions, an Emtec, Inc. (OTCQB: ETEC) company and leader in Information Technology (IT) consulting services, today announced that its Corporate Social Responsibility (CSR) program, focused on having a positive impact on society, is addressing the needs of many organizations this year including Children’s Memorial Hospital and the Pancreatic Cancer Action Network. Rather than give out material gifts for the holidays, Emerging Solutions is honoring employees and clients by making donations on their behalf to the two charities. The company is an avid supporter of these and
WHAT:The recent buzz around Cloud solutions has promised to improve efficiencies and reduce cost and increase ROI. This session is designed to outline how to leverage best practices around data center consolidation and future Cloud integration, regardless of platform. For Tribal organizations trying to balance the multiple demands of the business with decreasing budgets leaves a lot asking, “How do we get to the Cloud and should we?”
Emtec Federal will provide an outline to defining the needs of the Tribal IT Cloud and more importantly, will show where some
Springfield, NJ – Emtec Federal (OTCQB: ETEC), a systems integrator, today announced its selection as one of 333 prime contractors for the Navy SeaPort Enhanced (SeaPort-e) Contract. The indefinite-delivery indefinite-quantity (IDIQ) multiple award contract has a three-year base period with one five-year award term. The government estimates a maximum of $5.3 billion of services will be procured per year via orders issued under the contract.
The award of these contracts is a result of the SeaPort-e Rolling Admissions solicitation and will support service requirements solicited by Naval Sea Systems Command; Naval
Chicago, IL. – November 16, 2011 – Emerging Solutions, an Emtec, Inc. (OTCQB: ETEC) company and leader in Information Technology (IT) consulting services, today announced that it has been named one of the Chicago Tribune’s Top Workplaces for 2011. In order to find the region’s best places to work, The Chicago Tribune teamed up with Workplace Dynamics LLC, a firm that specializes in workplace surveys, to conduct more than 136,300 anonymous surveys of Chicago-area businesses completed by the employees themselves. Out of 1675 of Chicago area companies that were asked
Article: Progressing your BI Strategy – Advance to Run
By Sajid Patel
In the first two articles (Crawl & Walk) of this three-part series, we discussed what it takes to reach a level in your Business Intelligence (BI) strategy where the environment accelerates to deliver value to an increasing set of business groups. In this final article, we will discuss some of the considerations to take your BI strategy to the next level of value and advance to “run.”
* “Run”: Integrating BI into Key Business Functions
When you chose to progress your BI
ARTICLE FEATURED IN TECHNOLOGY FIRST, SEPTEMBER 2011
By Sajid Patel
In the first article of this three-part series, we jumpstarted the discussion on how to progress your organization’s Business Intelligence (BI) strategy. We talked about the importance of BI as a means of keeping the competitive edge and identifying opportunities. It’s hard to argue the value of information in optimizing business performance across many aspects. Then we established the fundamentals on how to get started with BI through a well-orchestrated “Crawl” stage. In this article, we will talk about how to take
Emtec will host a conference call on September 8, 2011 at 1PM US Eastern time to discuss their recent acquisition, long term strategy and business outlook.
The dial-in number for North American callers is:
888-424-8151, conference ID 7215 110
ARTICLE FEATURED IN TECHNOLOGY FIRST, AUGUST 2011
By Sajid Patel
Business Intelligence has been around for quite some time, arguably dating back to the 1960’s under the generalization of Decision Support Systems. While today’s definition may not be consistently used by analysts, vendors or customers; the business value it promises to deliver can be justified through numerous real-life case studies. Even a single, well-orchestrated instance can be enough to achieve a sizable return on investment and then some. Needless to say, finding that one hidden opportunity that can yield significant revenue or
Springfield, NJ – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”), a systems integrator, today announced that it has entered into a definitive agreement whereby Emtec will acquire Gnuco, LLC, doing business as Emerging Solutions (“Emerging.”) Emerging is an Information Technology (IT) consulting/services company, based in Chicago, IL that focuses on enterprise performance management and has broad capabilities and deep technical expertise in market-leading technologies (e.g. Oracle, Hyperion, PeopleSoft, Microsoft, and Salesforce.com) as well as expertise in business process management.
Emtec is now positioned to provide a broad and deep portfolio
Springfield, NJ – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”), a systems integrator, today announced that a new investment partner, NewSpring Mezzanine Capital, has invested $10 million of mezzanine debt financing in Emtec. NewSpring is a leading provider of capital to growth companies headquartered in the Mid-Atlantic Region. The proceeds are being used to repay senior debt, fund the Emerging acquisition (see separate press release), pay transaction expenses, and for growth.
Steve Hobman, General Partner of NewSpring Mezzanine, commented, “We are very excited to be able to become a long-term
Springfield, NJ – Emtec, Inc. (OTCBB: ETEC) (“Emtec” or the “Company”) announced today the results of its third quarter.
Revenue decreased 16% to $44.9 million for quarter ended May 31, 2011 from $53.5 million in quarter ended May 31, 2010, a decrease of $8.6 million. Services and consulting revenue grew by 45%, with approximately half of the growth coming from the addition of revenues generated by the Company’s acquisitions. Gross profit dollars decreased by 3.4% while the gross profit percent improved to 17.4%. Earnings before interest, taxes, depreciation and amortization expenses
Springfield, NJ – Emtec, an Information Technology consulting and managed services provider, today announced that it has expanded its leadership team with the addition of Jeff Clapper as Executive Vice President, Commercial Sector. Mr. Clapper will oversee the company’s sales and marketing efforts in the commercial sector globally, and continue to focus on building Emtec’s IT services revenues.
Bringing more than 15 years of sales and management experience, Mr. Clapper will report directly to Mr. Dinesh Desai, CEO, President, and Chairman at Emtec. Prior to joining the company, Mr. Clapper was
Springfield, NJ – Emtec, an IT systems integrator, today announced that it has been recognized by Everything Channel as part of CRN’s VAR500 list for 2011 establishing Emtec among the leading technology integrators in North America. Emtec is now ranked #90, up from #173 last year – further proof of its success and growth in 2010. The company has made the VAR500 list since its inception 17 years ago.
The list is comprised of the highest producing technology integrators and solution providers in the IT channel, focusing on earnings from IT
Springfield, NJ, April 15, 2011 – Emtec, Inc. (OTCBB: ETEC) (“Emtec” or the “Company”) announced today that it acquired two companies and announced its financial results for the second quarter of 2011.
The acquisitions of the two companies will significantly enhance the Company’s portfolio of services, talent, and client base and provide greater on-shore and off-shore development depth for all practice areas. The company acquired Dinero Solutions, LLC, a leading Oracle, eBusiness suite (EBS) ERP consulting and integration practice on February 3rd 2011, and Covelix, Inc., an application development organization that
In today’s highly volatile economic environment and rapidly changing landscape of IT best practices, most IT leaders are struggling with balancing competing priorities with ever-shrinking budgets. For many, it’s an ongoing debate with business executives on how to address the costs and risks associated with delivering IT services. Innovation within IT is being achieved by some; however the majority of IT organizations do not know where to begin.
In order to address these concerns, some IT organizations are embracing a new, pragmatic approach to IT value by implementing a measurement process
Springfield, NJ – Emtec, Inc. (OTCBB: ETEC) (“Emtec” or the “Company”) announced today that for the quarter ended November 30, 2010, revenue increased to $76.9 million for quarter ended November 30, 2010 from $73.6 million in quarter ended November 30, 2009, an increase of $3.3 million. Services and consulting revenue grew by 17.6% from the same period in the prior year, primarily from the addition of revenues generated by the Company’s recent SDI acquisition. Gross profit showed no material increase from the same period in the prior year. Earnings before
Marlton, NJ – Emtec, Inc. (OTCBB: ETEC), a systems integrator, today announced that it has been awarded a contract initially funded at $3.2 million for the first two years, and will be funded up to a total of $8 million if the options for the three additional one-year renewal periods are fully exercised. This award is for the delivery of Desktop Support Services in 200 locations throughout Jacksonville, Florida and will support more than 6,500 users of desktop and laptop PCs.
Emtec associates working with the City of Jacksonville include Desktop
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