NEWPORT BEACH, CA--(Marketwire - Apr 12, 2011) - DynTek, Inc. (PINKSHEETS: DYNE), a leading provider of professional technology services, today announced that CEO Ron Ben-Yishay is a semi-finalist for the Ernst & Young Entrepreneur Of The Year® 2011 Award in Orange County. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities. Ben-Yishay was selected as a semi-finalist from nearly 60 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 11 at the Hyatt Regency in Huntington Beach.
Since taking the helm at DynTek three years ago, Ben-Yishay has led the company to drive unprecedented results including:
- Improving from almost $30M in losses to positive net income
- Generating positive EBITDA every quarter
- Completing a $16.4 million debt to equity conversion, removing the company's major debt liability
- Reducing G&A expenses by 33% while improving productivity
- Receiving industry recognition such as McAfee GHE Partner of the Year, Citrix Learning Center of the Year, Cisco Gold Star for Customer Service, CRN Tech Elite 250 List and Top 50 Fast Growth Up-and-Comer by Everything Channel
"I am honored to be recognized by this distinguished group," said Ben-Yishay. "I truly believe this distinction is a result of the entire team at DynTek, who through their commitment to excellence and positive performance, has enabled us to drive the financial results that garner this kind of attention."
The Ernst & Young Entrepreneur Of The Year awards program celebrates its 25th anniversary this year. The program has expanded to recognize business leaders in over 140 cities and over 50 countries throughout the world.
Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 12, 2011. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies, and is held from November 9-13, 2011.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation as a national sponsor.
In Orange County, sponsors include:
Stradling, Yocca, Carlson & Rauth
Quality Systems, Inc.
Strategic Equity Group
Orange County Business Journal
Hilary Kaye Associates
About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
DynTek is a leading provider of professional technology services to mid-market companies, such as state and local governments, educational institutions and commercial entities in the largest IT markets nationwide. From virtualization and cloud computing to unified communications and collaboration, DynTek provides professional technology solutions across the three core areas of our customers' technical environment: Infrastructure/Data Center, Microsoft Platforms and End Point Computing. DynTek's multidisciplinary approach allows our clients to turn to a single source for their most critical technology requirements. For more information, visit http://www.dyntek.com.
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Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, success in reaching target markets for services and products in a highly competitive market and the ability to maintain existing and attract future customers; our ability to finance and sustain operations, including our ability to comply with the terms of working capital facilities and/or other term indebtedness of DynTek, and to extend such obligations when they become due, or to replace them with alternative financing; our ability to raise equity capital in the future; our ability to achieve profitability despite historical losses from operations; our ability to maintain business relationships with IT product vendors and our ability to procure products as necessary; the size and timing of additional significant orders and their fulfillment; the continuing desire of and available budgets for state and local governments to outsource to private contractors; our ability to successfully identify and integrate acquisitions; the retention of skilled professional staff and certain key executives; the performance of DynTek's government and commercial technology services; the continuation of general economic and business conditions that are conducive to outsourcing of IT services; and such other risks and uncertainties included in our Annual Report on Form 10-K filed on October 29, 2007, our Quarterly Report on Form 10-Q filed on November 19, 2007 and other SEC filings. DynTek has no obligation to publicly revise any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.