A new addition to the Teletouch Communications (TLLE) team announced on Tuesday is another sign that the company may be ready to 'pick up its' game and make another splash in the distribution of wireless and telecom hardware products and accessories.
Recently-settled litigation with AT&T (T) filled the company's war chest with a settlement sum of $18 million and also led to a new multi-year agreement between the two companies that should keep the partnership in tact for years to come. Following the settlement, Teletouch quickly redirected its primary business model to the sale and distribution of telecom-related hardware.
Multiple new distribution agreements were quickly announced shortly thereafter, a key indication that this company may be positioned for serious growth, and the hiring of Timmy Monico, a thirty year veteran of the industry, as Vice President of Sales for its distribution unit, PCI Wholesale, further validates the company's new business plan.
The Monico addition could be a coup for Teletouch. Monico previously served as the Vice President of Sales for CellStar USA, and successfully built a sales network that generated revenues of more than three-quarters of a billion dollars for that company, according to Tuesday's press release. Heading up Teletouch's PCI Wholesale’s distribution division, it would only take a fraction of those numbers for Monico to make a dent in the TLLE market cap, which currently stands at just under $20 million.
Also in Monico's resume are multiple management tours at companies such as InfoSonics Corp (IFON), Aerovoice Wireless, and most recently at U.K.-based Datawind, Ltd., a leading developer of affordable wireless web access products and services.
President and COO of Teletouch, T. A. “Kip” Hyde, Jr., noted:
"Timmy brings a broad perspective and deep experience to our sales organization. With his extensive and intimate knowledge of the U.S. wireless carrier and related retail markets, as well as capability in building dealer sales channels and successful management structures, Timmy’s skills will play a key role in expanding our distribution sales, both domestically and internationally. I look forward to Timmy spearheading the expansion of our distribution footprint and overseeing the sales growth of this key business unit.”
This latest move by Teletouch validates the company's expanding business plan and also emphasizes a push towards overseas markets, as well.
It's still worth watching this company as a potential growth story. With the credentials that Mr. Monico now brings to the table, there's reason to believe that results may not be too off into the future.
Disclosure: No position.
Contact VFC's Stock House: email@example.com
Originally published at: http://vfcsstockhouse.com
Follow VFC's Stock House on Twitter: https://twitter.com/#!/VFCsStockHouse
'Like' VFC's Stock House on Facebook: http://www.facebook.com/pages/VFCs-Stock-House/143724412345213