Dale E. Messick
*** ****** **., *****, ** *****
Cell: 404-***-****; Work: 540-***-**** Email: *********@*******.***
SUMMARY
Financial executive experienced in leadership of public companies, private
entities, private equity, IPO activities, and M&A, of companies with
revenues ranging from $35 million to $900 million.
CAREER SKILLS/ KNOWLEDGE
Finance/ administration management Financial reporting
Public debt and equity offerings Mergers and acquisitions
Multi-location and international Financial planning and analysis
operations
Forecasting/ budgeting Operational restructurings/ cost
control
CAREER HISTORY AND ACHIEVEMENTS
Luna Innovations, Inc., Roanoke VA (2006 - present)
(Public company with leading fiber optic sensing & instrumentation family
of products serving medical, energy and telecommunications markets;
developer of unique carbon nanomaterials for medical diagnostic and
therapeutic applications; contract research and development services for
governmental and industrial entities. Revenues of $35 million.)
Chief Financial Officer
o Implemented company focus on cash flow. Reduced operating expenses as
the primary driver in achieving improved annual net cash outflow from
$12.5 million to $1.2 million over a three year period.
o Improved adjusted EBITDA from a loss of $7.0 million in 2006 to positive
$2.3 million in 2009.
o Over two year period, reduced quarterly baseline total operating expenses
by more than 20% and baseline cash operating expenses by 30%.
o Implemented public company reporting requirements, including filings of
10Q's, 10K's, and Sarbanes-Oxley 404 requirements and conducting
quarterly earnings calls. Responsible for investor relations activities.
Worldspan, Atlanta, Georgia (1993 - 2005)
(Multi-national company providing transaction processing and information
technology services to the global travel industry. Annual revenues in
excess of $900 million.)
Sr. VP- Finance
Chief Financial Officer
Director- Finance and Accounting
Assistant Controller- Accounting and Financial Reporting
o As Chief Financial Officer, developed and executed business plans and
strategies that focused the company on profitable growth and cash
generation, resulting in payments of the first dividends in the company's
history in 1999, an aggregate of $715 million in cash dividends to equity
holders over a five year period, and the ultimate sale of the company to
financial investors for consideration exceeding $1 billion.
o Successfully completed private placement of $280 million bond offering as
part of the financing of the acquisition noted above. Performance on the
road show resulted in bond pricing 1.375 points below the rate inherent
in the preliminary prospectus with sales to institutional investors
including Fidelity, Putnam, T. Rowe Price, American Express, AIG, and
others. Subsequently completed public registration of the bonds on Form
S-4.
o Completed $750 million dividend recapitalization of the company,
redeeming 100% of the company's outstanding preferred stock ($370
million) and tendering $280 million of bonds.
o Executed $500 million interest rate swap transaction to hedge interest
rate exposure on floating rate debt following the dividend
recapitalization.
o Maintained consistent EBITDA margins while increasing gross revenues from
$588 million in 1997 to $914 million in 2003 and increasing U.S. market
share from approximately 16% to approximately 30% during that same
period. Decreased SG&A costs from 38% of revenues to 17% of revenues.
o Executed organizational restructurings for cumulative annual savings of
$48 million, creating an infrastructure that is better aligned with the
evolving customer base and product distribution.
o Simplified sales pricing and evaluation model, creating a tool which
provided sales force with greater insight for improving profitability and
allowed for sales incentive compensation to be driven by profitability.
o Negotiated financial terms and conditions of complex multi-year, multiple
element arrangement with value in excess of $300 million for future data
center hardware and software needs, representing an estimated savings in
excess of 30%.
o Conducted negotiations and due diligence on several potential merger
opportunities with industry competitors, both domestically and
internationally prior to ultimate sale to financial investors.
o Managed staff of 160 in the United States, Mexico, and Europe covering
accounting, financial reporting, taxes, treasury, procurement,
facilities, financial planning and analysis, budgeting, and internal
audit operations.
o Promoted from Assistant Controller- Accounting and Financial Reporting to
Chief Financial Officer over a period of four years.
o As consultant, worked with attorneys, investment bankers, and auditors on
preparation of S-1 Registration Statement, responses to SEC comments,
and road show presentation for proposed initial public offering.
Developed synergy analysis for potential business combination, and other
analyses as requested by CEO.
PricewaterhouseCoopers, Atlanta, Georgia
(International firm of certified public accountants)
1992 - 1993 Manager
1989 - 1992 Senior Accountant
1986 - 1989 Staff Accountant
o Provided various accounting and auditing services for clients in
manufacturing, financial services, and technology businesses.
o Instructor for internal continuing education classes.
EDUCATION AND CREDENTIALS
B.B.A.- College of William and Mary, 1986
Certified Public Accountant, Georgia, 1988
Member- American Institute of Certified Public Accountants