Tom Sweeney

It's a coming of age tale….

Posts Tagged ‘Staffing’

Bridgewater bumps up revenue 41 per cent in Q2

Posted by sweens on July 29, 2010

Bridgewater Systems posted a 41-per-cent increase in second-quarter revenues Thursday, but one analyst cautions a pull-back by the company’s largest customer could create anxiety among investors.

The Ottawa-based software development firm reported revenues of $22.7 million, powered in large part by product sales, which increased 47 per cent to $17.1 million.

Earnings before income taxes were $4.8 million in the same period, an increase from the $4.1 million posted the year before.

The firm’s $47.2 million in revenues in the year to date is also 56 per cent higher than revenues in the first six months of fiscal 2009.

A conference call with analysts Thursday morning discussed the company’s wins in attracting new customers, particularly overseas, and the expansion of partnerships with existing customers such as Cisco and Verizon.

However, mitigating the rosy outlook and continued customer growth was analyst concern about Verizon’s shift away from purchasing Bridgewater software and hardware solutions as a bundle and instead focusing on just the software solutions instead, said Bank of Montreal analyst Thanos Moschopoulos.

“I don’t think it will impact Bridgewater all that much, but when your largest customer is looking to tweak the way business is doing with you it makes people nervous,” he said.

He added he doesn’t see much of an impact given “Verizon has very rapid traffic work on 3G network” and that mobile Internet demand is not expected to slow down any time soon.

The challenge for Bridgewater, he added, was to position itself for the LTE market in the coming years, but that will not begin to take a large share on the market for about 24 to 36 months, he said.

The company highlighted its growth in developing countries during the conference call.

“We have a focus on global expansion and emerging markets,” said Ed Ogonek, chief executive of Bridgewater, talking particularly about their work in India as the country begins its move from 3G to 4G spectrum options.

“We’ve built a technical servies and professional services capability to put some additional in-country and in-region capability,” he added.

“One of the fascinating things around the market is it’s rich with skillset and technical experience.”

The addition of 17 new customers, including 11 outside of North America, drew praise from analysts, although they also drew concern that the new partner business represented only seven per cent of revenues and it is not expected to increase substantially in the next few quarters.

Research notes from Kris Thompson, of NBF financial, said the new customers “should aid future revenue growth and customer diversification.”

He noted that management had continued to keep up its revenue guidance of $85 million to $94 million.

“We continue to expect new customer wins in Q2 2010 to help the company beat this range,” he stated.

Bridgewater further noted two existing customers represent 59 per cent of the firm’s revenue. Chief financial officer Kim Butler said “one can assume” Verizon was one those partners but could not separate the two into more exact numbers.

For future guidance, Mr. Ogonek said the company has been involved in Europe and other regions in implementing a system that can help consumers avoid “bill shock” by sending mobile alerts when the person is getting close to the limit of their browsing downloads.

With more carriers looking to implement these systems in the next year or two, Mr. Ogonek said the company is well-positioned for growth in the coming 24 months.

In the second quarter, gross margin was $15 million, or 66 per cent of revenue, compared with $12.1 million, or 75 per cent of revenue in Q2 2009.

Bridgewater stated this is due to a bump-up in direct-product costs due to bundling integrated systems together, as well as increasing the infrastructure of operations support.

Net earnings before income tax went up 17 per cent to $4.8 million, compared with $4.1 million in the second quarter of 2009.

After income tax, net earnings were $3.2 million, or $0.13 per fully diluted share, compared with $4.1 million ($0.17 per share) in Q2 2009. The decrease was due to a one-time income tax spending of $0.6 million and a non-cash future income tax expenditure of $0.9 million.

http://www.obj.ca/Technology/2010-07-29/article-1631057/UPDATE-2%3A-Bridgewater-bumps-up-revenue-41-per-cent-in-Q2/1

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CGI wins contract with BEER STORE

Posted by sweens on July 14, 2010

Toronto
The Canadian Press
Published on Wednesday, Jul. 07, 2010 12:18PM EDT

CGI Group Inc. has won a seven-year, multimillion-dollar contract to provide infrastructure information technology services to The Beer Store, Ontario’s primary beer retailer.

The outsourcing agreement also encompasses infrastructure services for Brewers Distributor Ltd., a wholesale distributor of beer and the collector of returnable, refillable and recyclable beer containers in Western Canada, the Northwest Territories and the Yukon.

“We are confident that CGI’s intimate understanding of our business will assist us to make the best technology choices,” stated Ted Moroz, president of The Beer Store and Brewers Distributor.

The exact value of the agreement was not provided.

Doug McCuaig, president of CGI Canada, said the company is committed to establishing and maintaining long-term client partnerships.

“Going forward, we plan to leverage our comprehensive portfolio of services to further assist The Beer Store and Brewers Distributor,” Mr. McCuaig said.

CGI is Canada’s largest IT services firm. The Montreal-based company and its affiliated companies employ 26,000 professionals around the world. It had $3.8-billion in revenue in 2009.

Established in 1927, The Beer Store and its 438 stores sell 85 per cent of the beer in Ontario. It also supplies imported and domestic beer to more than 16,000 bars and restaurants and delivers domestic beer to 604 Liquor Control Board of Ontario (LCBO) stores.

http://www.theglobeandmail.com/globe-investor/cgi-wins-contract-with-the-beer-store/article1631705/

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Procom is Hiring

Posted by sweens on June 4, 2010

My office is looking for another recruiter to join our team as we continue to expand…  If your interested please reach out to me.

Recruiter  – Government & IT Consulting

Procom is seeking a recruiter with a proven track record in government recruiting to join its growing Ottawa consulting team.  As a Government focused recruiter you will be involved in managing the complete recruitment cycle and assisting Procom’s client’s in identifying top talent for their business needs. 

Why join the Procom team?  Procom is the largest IT recruitment firm in Canada and has been consistently recognized as one of Canada’s Best Small & Medium Sized Employers by Hewitt & Associates.  Procom’s Federal Government practice continues to grow, resulting in a need for experienced and highly motivated recruiters that are interested in competitive compensation. 

Profile of an excellent candidate

  • A proven capacity to manage and deliver the full life cycle of recruiting responsibilities, including but not limited to, sourcing, screening and interviewing candidates, developing references and managing salary negotiations
  • Strong knowledge of Federal Government procurement practices and commonly used IT consulting procurement vehicles.
  • Strong ability to complete candidate matrixes and scoring candidates to verify compliancy of submissions.
  • A track record of proactively developing relationships with passive and active candidates using a variety of methods, including cold calls, emails and referrals.
  • Utilize internal and Internet databases to source and identify candidates for current and future needs
  • Demonstrated competence in using in using cutting edge recruitment methods and tools in order to remain at the forefront of the recruitment industry and deliver the best possible experience to Procom’s clients and consultants.
  • Knowledge of the IT labour market and the ability to communicate trends and recruitment challenges to internal and external stakeholders
  • Working knowledge of IT systems and technologies and the ability to translate client technical requirements into a targeted consultant search strategy
  • Working experience with an applicant tracking system (CRM, Taleo, Bullhorn, MaxHire, PC Recruiter, etc)
  • Experience in recruiting consultants for complex ERP opportunities, including PeopleSoft, SAP and ectera
  • A positive attitude and strong commitment to providing our clients and consultants excellent service.
  • Career growth tasks such as market experts in industry sectors, mentoring junior recruiters etc
  • Such other duties and responsibilities as may be assigned from time to time which are compatible with the position.

Skills and Knowledge Required

  • University Degree or relevant experience
  • 2 – 3 years IT recruitment experience
  • Ability to handle pressure and meet deadlines
  • Ability to prioritize
  • Good interpersonal skills

General:

  • Such other duties and responsibilities may be assigned from time to time which are compatible with the position.

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Nortel wraps up sale of CVAS business to GENBAND; almost 400 Ottawa jobs preserved

Posted by sweens on May 31, 2010

GENBAND has completed its acquisition of the Nortel’s carrier voice-over-Internet protocol and application solutions business, one of the last major pieces of the fallen telecom giant to be sold.

Plano, Texas-based GENBAND, which announced the US $182-million deal in February, said Friday that it’s now wrapped up planning for the integration process and has finalized its executive management team, reporting structure and product roadmaps.

As well, nearly 100 per cent of the 400 employment offers extended to Nortel’s former employees in the division have been accepted, the company said. There will be approximately 500 people in total working for GENBAND in Canada.

 “We are pleased to further our vision of fuelling next-generation network migration and IP multimedia services deploymehnt through our successful acquisition of Nortel CVAS technology and talent,” said GENBAND chief executive Charles Vogt in a statement. “By creating one of the most comprehensive, standards-based, interoperable switching portfolios in the world, we will facilitate the industry’s massive and ongoing efforts to modernize networks, maximize existing investments and converge fixed and mobile infrastructures across disparate networks.”

GENBAND has acquired Nortel’s softswitches, media gateways and application platforms and will combine the technology with its own media, session and security gateways, the company said.

The deal means GENBAND will now have strategic product and support facilities in Ottawa, North Carolina, Massachusetts, Maidenhead, Shanghai and Beijing, as well as strategic partners in India and Turkey.

GENBAND paid US$282 million, with balance sheet and other adjustments reducing the net purchase price to $182 million.

The company noted it bought the CVAS business with the help of existing shareholder One Equity Partners, a private equity firm.

“Today’s announcement represents another successful milestone while preserving Nortel’s carrier VoIP technology innovation and base of highly skilled employees,” said Nortel’s chief strategy officer George Riedel. “The sale of our CVAS business to GENBAND enables our global service provider customers to continue to benefit from Nortel’s industry-leading carrier VoIP and telephony expertise and long-standing track record in transitioning time-division multiplexing networks to VoIP.”

GENBAND was originally supposed to be the initial bidder in an auction of the CVAS business, but in February Nortel said it would instead sell the division directly to the U.S. company.

http://www.obj.ca/Technology/2010-05-28/article-1183291/Nortel-wraps-up-sale-of-CVAS-business-to-GENBAND%3B-almost-400-Ottawa-jobs-preserved/1

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Canadian economy grows 6.1% in first quarter

Posted by sweens on May 31, 2010

The Canadian economy was roaring in the first quarter, jumping ahead of even the rosy estimates of economists to post an oversized 6.1 per cent annualized advance during the first three months of 2010.

It was the largest quarterly expansion in more than a decade.

The number doubled what the U.S. economy managed to produce and bettered the consensus forecast for a 5.8 per cent increase.

As significant was that output in March, the last month of the quarter, advanced 0.6 per cent from February, giving the economy a strong hand-off to the second quarter.

With the Bank of Canada scheduled to make a decision on interest rates on Tuesday morning, the gross domestic product data is expected to add to the pressure on governor Mark Carney to move rates higher for the first time in about three years.

“It would take some fancy footwork for the Bank of Canada to pass on hiking rates tomorrow after the Canadian economy just doubled the U.S. quarter-one growth pace,” Scotiabank economists Derek Holt and Karen Cordes Woods wrote in a note.

“This is the strongest growth pace witnessed since 1999 and it is the latest evidence of how the Canadian economy and Canadian markets are outperforming much of the rest of the industrialized world.”

They noted that the level of the economic activity in Canada is now roughly back to where it stood prior to the recession taking hold in the fourth quarter of 2008.

One a quarter-over-quarter basis, GDP advanced 1.5 per cent following a 1.2 per cent increase in the fourth quarter.

Statistics Canada credited consumer spending, housing and manufacturing for the stellar results, but all industries were solidly in the plus column.

While markets expected a strong result, the oversized growth pushed the Canadian dollar up more than three-quarters of a cent to 95.89 cents US in light early trading. U.S. markets were closed for Memorial Day on Monday.

Economists caution that the torrid pace of growth cannot continue, and with European woes weighing down global prospects, the moderation in Canadian output may have already begun.

“We are of the view that much better-than-expected consumer spending and housing market performances so far this year came at the expense of future growth,” said TD Bank’s Diana Petramala.

“The recent spending spree has left consumers even more fatigued and highly indebted than ever. As interest rates begin to rise (as early as this week) and households have to devote a greater share of their income to servicing their debt, this may well constrain future consumer spending growth.”

http://www.obj.ca/Canada—World/2010-05-31/article-1196324/Canadian-economy-grows-6.1%25-in-first-quarter/1

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The end of an era…

Posted by sweens on March 31, 2010

Yesterday marked the end of an era for me. I rushed out of work in order to get to my hockey game on time. I took the usual drive down Carling Avenue and made the right hand turn onto Moodie Drive so I could catch the 417. Traffic seemed slower then normal though on Moodie and as I slowly moved up the road I saw what the hold up was. A large utility truck was parked on the right side with a crane adjusting the old Nortel sign.

Unfortunately they were not performing repairs on this sign. They were taking it down. The sign which for so many years has said Nortel was no longer there. It has been replaced by several smaller signs representing the companies that have bought divisions of Nortel like Ericsson and Avaya.

This to me was truly a symbolic end to the once upon a time Telecomm giant; a building, campus and culture known to many in the Ottawa area as a significant landmark in the city’s West end.

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So I ‘GOOGLEd’ myself…

Posted by sweens on March 24, 2010

The great thing about having my blog hosted through WordPress is that it tells me what search strings people have used to eventually lead them to my blog.  So I thought I would try one out and I ‘GOOGLEd’ my own name.  I was happy to see that my blog was now the first search GOOGLE was able to display. 

I think I am going to count this as a small victory in the world of blogging.  Others might refer to is as ‘egosurfing’ but I assure that my intentions for ‘GOOGLing’ myself were not to boost my own ego.

Some would suggest that searching yourself frequently is a good thing to monitor the view you have created for yourself on the web.  I know when I searched my name the options for ‘Tom Sweeney’ were endless as I am clearly not the only person with this name but there are many people with this name on Facebook, LinkedIn, Plaxo, ZoomInfo, etc.

Try it – let me know what you find…

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Video Blogging…

Posted by sweens on March 18, 2010

Is anyone doing it?  I see it becoming more and more of a tool that people are trying to experiment with but I do not personally follow anyone who does regular video blog or know of anyone who does.  It would be something I would consider doing and to be honest it is probably a lot of fun.  I think it could be a good recruitment tool for corporate recruiters. 

Anyone have any thoughts of comments on video blogging?

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Jobless rate rises to 6.1% despite employment gain in February

Posted by sweens on March 12, 2010

Published on March 12th, 2010
Krystle Chow
Ottawa Business Journal

Despite the addition of 1,400 jobs in the National Capital Region, the Ottawa-Gatineau unemployment rate edged up 0.1 percentage points to 6.1 per cent in February, according to new data released Friday by Statistics Canada.

The rise in the number of jobless people was largely as a result of an influx of workers into the local economy, with 2,300 people joining the Ottawa-Gatineau labour force.

The creation of jobs was repeated elsewhere in the country, leading to an overall employment gain of 21,000 and a 0.1-percentage-point decline in the unemployment rate, to 8.2 per cent.

 http://www.obj.ca/Local/2010-03-12/article-902970/Jobless-rate-rises-to-6.1%25-despite-employment-gain-in-February/1

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CPSA and so much other stuff…

Posted by sweens on March 11, 2010

I wish I had more time as of late to blog but it has just been crazy busy for me at the moment that I have not had much down time at work to dedicate to this.  I have a few minutes to breath right now so I thought I should write something down.  Maybe it will help me de-stress.

Firstly, my firm has been busy trying to get onto Cyber Protection Supply Arrangement (CPSA).  We usually partner with other companies to meet CPSA requirements so we thought why not go after that procurement vehicle and be less dependent on our partners.  It certainly was time consuming and took a lot of effort by many individuals but we got out bid in on time and I look forward to seeing how we did on it. 

I personally enjoy recruiting for CPSA as the people are generally good to deal with and there are high pay and bill rates so it definitely is a win-win for most successful placements.

On top of all of that, my firm is recruiting a large IT services bid which needs some very technical and very specific people.  It has proven to be a challenge but it has really down the strength of my office at this point.  I am looking forward to seeing the final results of this bid.

Oh and I can not forget my regular order flow. 

Is everyone else insanely busy right now?  Sometimes busy is good right?

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DragonWave signs OEM deal

Posted by sweens on March 2, 2010

Published on February 24th, 2010
Ottawa Business Journal

Shares of DragonWave Inc. (TSX:DWI) soared more than five per cent Wednesday as it announced a major original equipment manufacturer deal for backhaul products that will be used in North America and Japan.

Ottawa-based DragonWave said it’s signed an agreement with an unnamed “world leader” in mobile communications infrastructure that will see the former’s microwave radio system used in the customer’s end-to-end mobile backhaul solutions.

 While few details were disclosed, the markets reacted positively to the news, as the deal could represent a step in DragonWave’s goal of connecting with major carriers such as Alcatel-Lucent and Verizon. It could also allow the company to diversify and lessen its strong dependence on top customer Clearwire.

 The company’s stock, which has already been enjoying blistering growth over the past several months, soared to a fresh high of $13.65 following the news, before settling down slightly at $13.43 at the close of business Wednesday, a 70-cent spike from the previous day’s close.

http://www.obj.ca/Technology/2010-02-24/article-818999/DragonWave-signs-OEM-deal/1

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R&D employment rises

Posted by sweens on February 16, 2010

Published on February 11th, 2010
Canadian Press

A new study suggests employment in research and development is on the rise in Canada.

Statistics Canada reports there were 228,680 full-time equivalent personnel engaged in research and development (R&D) activities in Canada in 2007, up two per cent from the previous year.

The agency says the business enterprise sector employed the majority of R&D personnel in Canada at 65 per cent.

Higher education employed 26 per cent of the country’s R&D workers, while government accounted for eight per cent and non-profit organizations employed one per cent.

StatsCan says about three-quarters of R&D personnel worked in Ontario (45 per cent) and Quebec (31).

Most of the remaining R&D personnel were working in British Columbia (10 per cent) and Alberta (seven).

Researchers accounted for 63 per cent of total R&D personnel, while technicians comprised 25 per cent and support staff 12.

http://www.obj.ca/Technology/2010-02-11/article-661960/R%26amp%3BD-employment-rises/1

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Procom – One of Canada’s 50 Best Managed Companies

Posted by sweens on February 16, 2010

 Toronto, February 16, 2010 Procom is pleased to announce that it has been honoured for the fourth consecutive year as one of Canada’s 50 Best Managed Companies.

Established in 1993 by Deloitte & CIBC, Canada’s 50 Best Managed Companies is the country’s leading business awards program, recognizing excellence in Canadian-owned and managed companies with revenues over $10 million. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous process that evaluates the calibre of their management abilities and practices.

“Recognition by the leading firms that sponsor the program is a significant honour and appreciated greatly by myself and the entire team at Procom,” says President & CEO Frank McCrea. “We believe that our consistent application of best practices has created a strong foundation that has enabled us to weather the recent economic downturn and emerge stronger than before.”

In 2009 the IT staffing industry experienced a downturn affecting the demand for Procom’s core services. By reacting to the market and adapting its offerings Procom overcame economic adversity and developed closer relationships with its clients. The award is validation of the strong leadership and vision of Procom’s management team. Procom would like to thank its clients, consultants and employees for their continued support.

About Procom – Procom Consultants Group is Canada’s leading IT staffing firm. Canadian-owned and operated, Procom has 12 office locations, over 2800 consultants on assignment across North America and is responsible for hundreds of permanent placements annually. Procom’s service offerings include contract and permanent IT staffing, payroll administration, vendor management and IT project solutions. Procom is proud to be recognized as one of Canada’s 50 Best Managed Companies. For more information visit: http://www.procom.ca or http://www.canadas50best.com.

More Information:
Corporate Communications
Procom Consultants Group
allisonm@procom.ca

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Crazy Busy…

Posted by sweens on February 4, 2010

I just needed to write a quick blog entry to take a mental break from all the recruiting I have on the go right now? Is everyone else as busy as I am right now? The Federal Government is pumping out orders like it is their job in an effort to spend any remaining budget they have before the March 31st fiscal year end. Some of my private sector clients are up and running again and buying professional services. And to top it off my colleague is off on holidays this week.

My overly active hobby as a referee is also ridiculously busy right now which isn’t helping my time to un-wind after work. How is everyone else doing right now?

As busy as it is, I can not help but think of how great it is being a recruiter right now.

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Corel privatization complete

Posted by sweens on January 28, 2010

Published on January 28th, 2010
Krystle Chow

The last step for the privatization of Ottawa-based Corel Corp. has been completed.

Corel shareholders earlier this week approved a stock consolidation that was part of the going-private deal with Corel Holdings LP, a limited partnership controlled by major shareholder Vector Capital.

Stakeholders who were not part of Corel Holdings and its affiliates will receive US$4 in cash for each pre-consolidation share held, the company said in a statement.

Shares of Corel, maker of popular software products such as PaintShop Pro and WordPerfect, have now been delisted from the Nasdaq and the Toronto Stock Exchange. The stock was priced at $3.33 on the TSX at its last trade on Jan. 27.

This is the second time Vector Capital has taken Corel private. Vector – a San Francisco-based private equity firm that owned about 68.3 per cent of Corel’s shares before this latest privatization – first bought out Corel in 2003, and in 2006 the software company ventured back into the public markets, with its shares debuting at US$16 at the time.

Vector attempted to buy Corel again in March 2008, offering $11 in a bid criticized by some analysts at the time as being too low, but that deal fell through in August of that year.

Corel continued to seek buyers to recapitalize itself, and announced shortly after the collapse of the Vector bid that it had identified a third-party buyer. However, the buyout talks sputtered a few months later, and Vector announced another bid in 2009, this time for only US$3.50.

The private equity firm then sweetened its bid to $4 in November.

http://www.obj.ca/Technology/2010-01-28/article-585246/Corel-privatization-complete/1

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