PHOENIX, Nov. 8, 2013 (GLOBE NEWSWIRE) -- OnTrac Chief Financial Officer Thomas Fischer was honored on November 6, at the 2013 CFO Awards held at the Arizona Biltmore in Phoenix. He was one of 26 nominees and a winner in the Private Company Category of the Financial Executives International (FEI) Arizona Chapter CFO of the Year Award, presented by AZ Business Magazine.
"The role of the CFO has changed to a more complex and dynamic position within our company," OnTrac President Rob Humphrey said. "Tom has grown and easily adapted in this role to become a key member of the executive team."
Fischer, now in his 13th year with OnTrac, serves as the Chief Financial Officer and Vice President of Finance at OnTrac, a regional shipping company that provides its customers with an alternative, cost-effective means of delivery, enabling the customer to save money while providing faster, more flexible delivery options. Fischer has navigated business reorganizations, led the implementation of optimized business practices and collaborated toward the successful launches of five new states, helping to diversify the company's services and increase customer value.
"This recognition from FEI and the Arizona Business Magazine is a testament to the efforts of our entire company," Fischer said. "I'm truly honored by the recognition, which follows several recent deals and major expansions OnTrac has made in 2013."
Under Fischer's guidance, OnTrac has seen revenues increase more than four times, working capital has increased two-and-a-half times, assets have increased more than $50 million or almost five times, stock holder's equity has doubled, long-term debt, during this same time period, has plummeted from extremes of 75 percent of the total assets to less than 33 percent today and the accessible line of credit has increased by $20 million, or three times, with lower than traditional market pricing.
Fischer is also a member of the American Institute of Certified Public Accountants, and the Phoenix CEO-CFO Group, as well as the Arizona and Iowa Societies of Certified Public Accountants.
OnTrac is proud to congratulate Thomas Fischer as one of this year's CFOs of the Year.
CONTACT: Laura Peterson 602-284-1247