Quality Control Internal Audit

Michael J. Fults, C.P.A.

Cell: 408-***-****

*******@*****.***

Controller

Acquisition accounting – 5 companies

Revenue Recognition

Centralize and consolidated global inventory tracking and management from Raw Material to Finished Goods

System implementations – Great Plains (2), Oracle R12 NetSuite, Expandable, Epicor, SFDC and several bolt ons

Preparation of Board packages

SOX expertise

Corporate structure design and implementation

Performance management – design, monitor and improve key metrics

Worldwide banking knowledge

Product end-of-life planning

External and internal audit management including regulatory engagements

Corporate relationship management – legal counsel, insurance, benefits

Operational expertise – inventory levels, AR, collections and cash management

Multi-national tax coordination and regulatory filings

Process improvement expertise

Transfer pricing studies

EXPERIENCE:

Amphenol Thermometrics, Inc Controller (12/2023 to 12/2024)

Partnered with the President to run the Nova Sensor division of Amphenol with revenues of $80m.

Drove standard margin improvements by running time studies and reducing OH expenses to properly calculate efficiency gains through operations improvements.

Partnered with Quality Control and Engineering to drive yield improvements in wafer manufacturing. Improved yields from 78% to 90%.

Implemented a purchasing strategy with the procurement group resulting in $650k of savings.

Prepared budgets by working cross functionally with department heads and operations. Provided cost savings initiatives to drive income improvement.

Prepared Strategic financial statements to support Strategic Plans.

Drove AR collections and reducing past dues by over $850k.

Improved reporting timeliness and accuracy to the President and Division Headquarters. Led forecast and financial review meetings to assist in driving business with the President.

Mentored and grew accounting staff to be able to provide more assistance with greater accuracy. Trained to partner with the business and add value

Evergent Group VP of Finance (6/2022 to 7/2023)

Reporting to the CEO’s and Presidents with responsibility for directing the accounting and finance functions of the 3 Staffing Solution companies with revenues of $178M.

Successfully refinanced the $15m ABL with Wells Fargo across the 3 entities.

Prepare Board of Director packages and manage monthly Board Meetings.

PPP loan forgiveness applications completed and filed. Achieved a savings of over $1m.

Migrated 401k plan to new service providers. Achieved a cost reduction of $50k annually while providing better support and investments for the plan participants. Increased enrollment by 17%, resulting in no further discrimination testing failures.

Changed auditor’s and tax preparers resulting in 25% savings of audit, tax and 401k regulatory fees for 2021 and 10% savings in 2022.

Recategorized 3 businesses in a controlled group to separate entities for 401k and benefits. Managed the divestiture of one entity to a sole owner.

Incorporated and assisted in opening an office in India.

Implemented Sage Intacct in 4 months under budget.

Implemented the 2021 budget for 3 entities. Transferred the budgeting process to Sage Intacct.

Business Process Review completed for Sage Intacct implementation.

Maravai Life Sciences Senior Divisional Controller (2/2021 to 6/2022)

Reporting to the VP, Corporate Controller with responsibility for directing the accounting and finance functions of the Cygnus Technologies, Vector Laboratories and Glen Research divisions. Maravai is rapidly growing and doubling revenues this year.

Implementing SOX companywide.

Preparing Sales Tax VDA’s and bring the Companies current with all regulatory requirements.

M&A accounting for the sales of the Vector Laboratories division.

Preparing the 2022 budgets for my divisions.

Implementing NetSuite enhancements to facilitate the rapid growth and allow for scalability.

Harmonizing all processes and procedures companywide.

Evergent Group VP of Finance (10/2020 to 2/2021)

Reporting to the CEO’s and Presidents with responsibility for directing the accounting and finance functions of the 3 Staffing Solution companies with revenues of $178M.

Biocare Medical LLC VP, Corporate Controller (10/2018 to 7/2020)

Reporting to the CFO with responsibility for directing the accounting and finance functions of this Biotechnology company with revenues of $48M.

Developed the monthly management reporting package highlighting areas of opportunities and risks.

Established all internal controls and automated processes for the procure to pay and order to cash cycles.

Implemented Great Plains, SalesForce.com and barcode scanners for manufacturing and warehousing.

Completed the 2018 and 2019 audits on-time, on-budget and with no material or significant deficiencies.

Revamped the chart of accounts to simplify and provide more accurate financial statements.

Improved the cost accounting function of the company utilizing average actual costing. Reduced over/under absorption. Report efficiencies in the manufacturing area to assist with planning.

Implemented the PO process from purchasing through AP in Great Plains.

Compass Components, Inc. VP, Finance and Corporate Administration (2016 to 10/2018)

Reporting to the President with responsibility for directing the accounting, finance, IT, purchasing and HR functions of this contract manufacturing company with revenues of $74M. Achieved 20% yoy growth each of the last 2 years.

Implemented the budgeting process and started Budget vs Actual variance measurement to understand the performance of the department heads and Company.

Partner with the engineering, quoting and production departments to reduce standard vs actual variance and improve overall efficiency in production. Significant over/under variance decreased by 20%.

Responsible for opening the Guadalajara facility in Mexico utilizing a shelter company. Operations started in May and currently operating at 90% current capacity.

Responsible for opening the Palomas facility in Mexico. Operations started August 2018.

Restructured the P&L to provide better financial analysis focusing on COGS, labor and overhead.

Restructured absorption rates by plant to allow true absorption analysis and profitability by plant. Drives company profitability by properly allocating business to the most appropriate plant.

Implemented a corporate card paying program with rebates returned to the Company. Converted over $12M of AP to payment by corporate credit card while achieving cash rebates of $123k.

Reduced E&O inventory by over $750k by returning inventory to suppliers, selling and recycling the remaining inventory earning $100k.

Managing the ERP implementation project. Go-live September 1, 2018.

Enhanced the AR collection process. Recovered over $1M of past due balances over 120 days old and $950k of written-off AR.

Partnered with the tax accountants to reduce the tax burden. Through better tax planning and use of various credits, was able to reduce the tax by over $180k.

Applied for the NM High Wage Earner tax credit. Collected reimbursements of $195k for the period 2011 to 2017 from NM.

Responsible for renewing the insurance for the Company. Increased coverage amounts, added foreign policies, decreased deductibles and achieved a rate reduction of over 6%.

CBR Systems, Inc. Corporate Controller (2013 to 2016)

Reporting to the CFO with responsibility for directing the accounting, tax and treasury functions of this Private Equity owned cord blood and cord tissue storage company with revenues of $138M.

Partnered with a cross functional team that insourced kit assembly resulting in annual savings of $500k.

Accounting project manager for the implementation of Microsoft Dynamic AX. Go-live 7/6/15.

Responsible for renewing the insurance for the Company. Increased coverage amounts, decreased deductibles and achieved a rate reduction of over 7% resulting in savings of over $70k.

Responsible for the tax compliance of the Company. Filed all returns timely and achieved a fee reduction of $50k through better planning and information flow.

401(K) administrator – implemented the Investment Policy Statement, reviewed and changed investments to achieve higher returns for employees, reduced the number of non-employees in the plan, and achieved growth of 3% contributors to over 90%.

Solta Medical, Inc. (SLTM) Assistant Controller (2010 to 2013)

Globalstar, Inc. (GSAT) Assistant Controller (2006 to 2010)

LeapFrog Enterprises, Inc. (LF) Assistant Controller (2005 to 2006)

Cost Plus World Market (CPWM) Inventory Accounting Manager (2004 to 2005)

Prints Plus, Inc. Corporate Controller (2002 to 2003)

Classroom Connect, Inc. Senior Accountant / Inventory Manager (2000 to 2001)

Bicker & Gordon C.P.A.’s, Inc. Senior Manager, Manager, Staff Accountant (1994 to 2000)

Public accounting firm with responsibility for performing audits, reviews, tax returns and consulting services.

EDUCATION AND ADDITIONAL INFORMATION:

The University of Texas at Austin,BBA, Accounting

C.P.A., California Society of C.P.A.’s, Certificate No. 73938

Proficient with the Retail Stock Ledger, Lawson, JD Edwards, Oracle 11i, Infinium, Platinum, Goldmine, Netsuite, Microsoft Dynamic AX, Sage Intacct, SysPro, Expandable, AccPac, Peachtree, Epicor, Microsoft Office

Eagle Scout – Boy Scouts of America

Contact this candidate