Description: Developer of digital products for the cable and satellite communications industry, using contract manufacturers
Challenge: Company’s revenue had declined from $250 Million to $10 Million during the previous two years resulting in a loss of $12 million during the period. While there was a large cash reserve, a number of shareholders wanted to liquidate the Company. Due to the sales decline and threat of liquidation, morale of vital employees had significantly eroded.
Actions: Completed a thorough assessment of the business, evaluating the risks and opportunities of creating a new business plan versus liquidating the Company. Recommended a course of action to allow the company to go forward and return to profitability within four quarters.
Results: Provided interim-management, implemented a new business strategy and operating plan, provided leadership and direction for the on-going business, stabilized employee turnover and improved employee morale. Obtained substantial sales commitments to meet first and second quarter revenue forecast. Installed new management team and handed the company over to the new team.
