Northern Virginia Technology Council Honors CFO of Liquidity Services Inc. for Outstanding Achievement
WASHINGTON--(BUSINESS WIRE)--Jun. 4, 2009--
Liquidity Services Inc. (NASDAQ:LQDT) is pleased to announce that Mr.
James M. Rallo, its Chief Financial Officer and Treasurer, received the
Public Company CFO of the Year Award from the Northern Virginia
Technology Council (NVTC). The award is presented annually to an
individual who has achieved outstanding achievement and excellence in
driving the growth of his company and promoting the area’s technology
community.
Mr. Rallo, who joined LSI in February 2005, received the award at
NVTC’s13th Annual Greater Washington Technology CFO Awards
held last night at The Ritz-Carlton in McLean, Virginia. His many
accomplishments in 2008 were highlighted at the event including several
that had a transformative impact on LSI. In 2008, Mr. Rallo played a
critical role in the completion of two acquisitions to expand the
company’s service offering and geographic reach, the award and renewal
of a major contract with the U.S. Department of Defense, and the
streamlining of operations in the company’s commercial division to
increase efficiency and throughput across its national network of
distribution centers. These efforts enabled LSI to grow gross revenue
and EBITDA by 54% and 29%, respectively, while generating approximately
$29 million in operating cash flow during FY2008.
“Jim’s talent and determination have helped LSI successfully manage more
than four years of rapid growth, a debut on the NASDAQ stock exchange in
2006, a follow-on offering of common stock in 2007, multiple
acquisitions and the strengthening of our core business with major
customers,” said Bill Angrick, Chairman and CEO of LSI. “We are honored
that NVTC recognized Jim because he is a shining example of LSI’s core
values of integrity, customer focus, relentless improvement, innovation
to support leadership, mutual trust and accountability, shared success,
and creating a great place to work. The success of LSI can only be
achieved with strong and dedicated team members, exemplified by Jim
Rallo.”
About Northern Virginia Technology
The Northern Virginia Technology Council (NVTC) is the membership and
trade association for the technology community in Northern Virginia and
is the largest technology council in the nation. Its membership includes
companies from all sectors of the technology industry and the service
providers that support these companies, as well as universities, foreign
embassies, non-profit organizations and governmental agencies. Visit
NVTC at www.nvtc.org.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable
corporations and government agencies to market and sell surplus assets
and wholesale goods quickly and conveniently using online auction
marketplaces and value-added services. The company is based in
Washington, D.C. and has over 700 employees. Additional information can
be found at: www.liquidityservicesinc.com.
Source: Liquidity Services Inc.
Liquidity Services Inc.
Julie Davis
202-558-6234
julie.davis@liquidityservicesinc.com
