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Technology Stocks : UDW - US Dataworks, Inc. Turnaround Play Under $1.00
UDWK 0.07-13.3%10:40 AM EDTNews

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From: Thomas Kirwin9/24/2009 2:46:48 AM
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7/30/09 - US Dataworks, Inc. Announces Addition of Chief Financial Officer

HOUSTON, July 30 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (Amex: UDW - News), a leading developer of payment processing solutions, announced today that it has appointed Randall J. Frapart to serve as its Chief Financial Officer, filling a previously existing vacancy.

Commenting on the addition of Mr. Frapart, Charles E. Ramey, the Company's Chairman and CEO, stated, "Our CFO position is a critical function to fill as we continue to grow the Company. Randy has impressive credentials with his strategic, forward thinking, hands-on approach and his 20-plus years of experience in CFO roles at two software development and consulting companies serving the financial and health insurance industries and at KPMG in Chicago. We are pleased to have someone as experienced as Randy join our management team."

Prior to joining the Company, from March 2008 to December 2008, Mr. Frapart served as Chief Financial and Chief Operating Officer of Plumgood Food, LLC, an online grocer providing the ordering and delivery of groceries. From January 2006 to December 2007, Mr. Frapart served as Executive Vice President and Chief Financial Officer of ForeFront Holdings Inc, a publicly traded global golf accessory company. From September 2002 until December 2005, Mr. Frapart served as Senior Vice President and Chief Financial Officer of HyperFeed Technologies, Inc., a publicly traded provider of software, which provides ticker plant and smart order routing technologies and managed services to exchanges, hedge funds and other financial institutions. Mr. Frapart served as Chief Financial Officer and later as Chief Executive Officer of Cyvent Technologies, a software and consulting company serving large health insurers, from April 1995 to July 2001. Mr. Frapart began his career at KPMG in Chicago, where he held various positions in the Information, Communication and Entertainment Assurance practice for over 12 years. Mr. Frapart received his B.S. in Accounting from Washington University in St. Louis, has his MBA in Management from the University of Texas and is a certified public accountant.
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