Merisel Wins ‘Business Turnaround of the Year’ at the 2011 American Business Awards
“We have continued to gain momentum in 2011.”
Merisel, Inc. operating under its Coloredge New York • Los Angeles brand, has been awarded “Business Turnaround of the Year” by the American Business Awards. The American Business Awards, part of The Stevie Awards program, honors the achievements and contributions of US-based businesses and their employees. The distinction of “Business Turnaround of the Year” is awarded to the company that showed significant operational and financial improvement in 2010 over 2009.
The winning nomination stated: “[Merisel] ended 2009 with a 26 percent decline in net sales vs. 2008 and an operating loss of $9.3 million (adjusted to exclude one-time non-cash expenses). We finished 2010 with 15.9 percent year-on-year revenue growth and strong operating income of $1.5 million, resulting in a turnaround of $10.8 million. Undoubtedly, [Merisel] achieved these results through persistent adherence to our three core tenets: consistently creating superior value for our customers, focusing our operations on efficiency, and instilling a culture defined by high-performance and excellence.”
Awards were presented in more than 40 categories and more than 2800 entries were received from organizations of all sizes in virtually every industry. Merisel was a finalist for 10 awards in seven categories, including “Best Overall Company of the Year,” “Business Innovation of the Year,” and “Turnaround Executive of the Year.”
“This is a most exciting time for our company as we reinvent and redefine our identity and positioning in the marketplace,” says Donald R. Uzzi, Merisel chairman and CEO. “As a result of our collective efforts, we have continued to gain momentum in 2011, and we remained focused on delivering new and innovative visual solutions to our clients to enhance and further build their brand equity.”
“By harnessing our capabilities, under a 'One Merisel' mandate, we not only restored this business to its rightful place, we accomplished something even more significant: At a time when many predicted the demise of manufacturing in the U.S., we have proven ‘Made in America’ is as vital today as ever, especially poignant when one considers our primary production facilities are in New York, New Jersey and Los Angeles,” Uzzi continues.
COLOREDGE NEW YORK • LOS ANGELES