End-Of-Year Financial News Is All Bullish For Employee-Owners

Wednesday didn’t appear on anyone’s calendar as a holiday, but for the employees of Expert Laser Services of Southbridge, gathering at Rom’s Restaurant in Sturbridge, Wednesday was both a holiday and a celebration.

Workers at Expert Laser have heard all the boom and bust forecasts accompanying the many end-of-fiscal-year and tax-time financial reports, but their 2005 year-end news gives them reason to party. That’s because it marks the end of Expert Laser’s initial year as an “ESOP” (i.e. a company with an Employee Stock Ownership Plan). And, in an ESOP, each end-of-year means a stock distribution.

For Expert Laser Services it’s the first tangible evidence of the ultimate transfer of majority ownership in the company to its employees. So, for these stock-holders it’s a time to celebrate!

“That’s the beauty of employee-ownership,” says Eric Willard, the company’s Chief Financial Office. “When you’re an ESOP, every employee can see their daily contribution affect the bottom line. Then, at  distribution time, every employee can feel the pride — and experience the financial rewards @– of an owner.”

Expert Laser Services began as a laser printer cartridge remanufacturer and now specializes in HP laser printers. The company offers sales, service and supplies as well as unique comprehensive printer management programs, plus Canon and Konica-Minolta copiers along with several other lines.

Expert Laser Services currently operates a state-of the-art remanufacturing plant in Southbridge as well as stores in West Boylston and Webster. From these sites the company services eastern and central Massachusetts, Rhode Island and northern Connecticut.