Apptix CFO Named to SmartCEO Magazine's 2010 SmartCFO List

Apptix’s Chief Financial Officer Chris Mack (News - Alert) 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.

Officials with Apptix (News - Alert) said that over the last two years as CFO of Apptix, Mack has proved himself a master of executive leadership, financial management, and resourceful financing.

Company officials said that 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, company officials pointed out, 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) and 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,” said Dave Ehrhardt, president and CEO of Apptix, in a statement.

Ehrhardt said that Chris and the team he installed have worked diligently to not only weather the economic downturn but also to fund the company’s 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.

In February Apptix announcedthat one of the largest U.S. healthcare systems has awarded Apptix a contract to provide standardized email services for its +100,000 employees spread across multiple facilities.

This client will utilize Apptix’s hosted Exchange email and mobility services, as well as e-mail encryption and archiving. Once deployment is complete, this win clearly positions Apptix as the world’s largest provider of hosted Exchange services.

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