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Ace Comm Corp (1017526) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 30, 2007

Ace Comm Corp

CIK: 1017526
 

Exhibit 99.1
(ACECOMM LETTERHEAD)
ACE*COMM REPORTS RESULTS
FOR THE FOURTH QUARTER AND FISCAL YEAR 2007
Fourth Quarter Fiscal 2007 Highlights
    Revenue increased 29% over 3Q FY07
 
    $4.2 million in new growth financing secured
 
    Increased to 4 the number of wireless operators implementing Parent Patrol®
Gaithersburg, MD — September 18, 2007
- ACE*COMM Corporation (ACEC.PK), a global provider of network business support and advanced operations support systems (BSS and OSS) solutions, today reported financial results for the fourth quarter and fiscal year 2007, both ending June 30, 2007.
Revenues for the fourth quarter of 2007 totaled $4.0 million compared to $3.1 million in Q3, 2007 and $6.5 million for the same quarter in fiscal year 2006. Net loss for the quarter was $1.6 million, or $0.09 per fully diluted share, compared to net loss of $2.6 million or $0.14 per share for Q3, and $0.5 million, or $0.03 per fully diluted share, for the same quarter a year ago.
For the year ended June 30, 2007, the Company recorded revenues of $13.3 million, compared to $26.7 million for fiscal year 2006. The Company had a net loss and loss per fully diluted share of $9.5 million and $0.53, respectively, compared to a net income and income per fully diluted share of $0.3 million and $0.02 for fiscal year 2006.
“After three quarters of weak results, our numbers are moving in the right direction this quarter and we are at the top of the range we pre-announced last month,” said Jim Greenwell CEO of ACE*COMM. “Although the target markets we are now focusing on are still developing, the actions we took to align our business with industry dynamics in these areas are starting to pay off. The restructuring of our organization, introduction of new management and our recent new financing are all helping position ACE*COMM for possible growth next fiscal year. We are also encouraged by the growing opportunities we are seeing for sales of our new products.
“Recent indications are that a number of Tier 1 and Tier 2 market operators who will be offering new value-added services — like Parent Patrol® — to their subscribers will be deciding how best to move forward in the coming year. Some of these are already using our technology in their service offerings and we consequently expect that the number of opportunities to which we will be exposed will increase. We now have four wireless operator customers in various stages of deployment of Parent Patrol® and continue in discussions with some of the largest mobile service providers, both directly and through our channel partners, Alcatel-Lucent and VeriSign. We believe that with AT&T’s recent announcement about its launch of wireless controls, this market will now move at a more robust pace and we are prepared for the challenge.”
 
© 2007 ACE*COMM   News Release   1 of 5
        A07.JNN.0220

 


The following information was filed by Ace Comm Corp on Wednesday, September 19, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ace Comm Corp provided additional information to their SEC Filing as exhibits

CIK: 1017526
Form Type: 10-K Annual Report
Accession Number: 0000950133-07-004043
Submitted to the SEC: Fri Sep 28 2007 5:30:55 PM EST
Accepted by the SEC: Fri Sep 28 2007
Period: Saturday, June 30, 2007
Industry: Computer Integrated Systems Design

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