Ace Comm Corp (MM) (NASDAQ:ACEC)
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ACE*COMM Corporation (NASDAQ:ACEC),
a global provider of value-added services and advanced operations
support systems (OSS) solutions, today announced that, based on a
preliminary review of results for the first quarter ended September 30,
2006, it expects to report revenue of approximately $3.0 to $3.5 million
and a net loss of approximately $2.5 million.
"This quarter’s results demonstrate the
recurring challenges in our traditional business and underscore our
decision to position the company as a significant provider of
value-added services that - when achieved - will improve revenue
visibility and stability,” said George T.
Jimenez, Chief Executive Officer of ACE*COMM. “ACE*COMM
has historically been dependent on large orders from a few customers to
generate the majority of our revenues in a given quarter. In recent
years, a growing number of these customers were internationally based
and tended to order large complex systems spanning multiple years, on a
non-recurring basis. This quarter we experienced delays in closing new
projects or extensions of ongoing projects with existing customers that,
if closed, we believe would have generated total revenue for the quarter
in the $6 to $7 million range.”
Added Mr. Jimenez: “We are continuing to work
the delayed transactions and anticipate that the second half of the
fiscal year will show significant improvement over the first half. In
addition, we expect to see the first revenue streams from our Parent
Patrol™ product suite under managed services
contracts already signed, and we hope to receive additional bookings
based on our distribution agreements with Lucent and other parties. In
addition, based on the current schedule, we still expect to begin the
delivery phase of the Air Force contract in the beginning of calendar
2007.”
As a result of project delays and the lower than expected financial
results for the first quarter, management now expects revenue for the
second quarter of fiscal 2007 to be in the range of $4.0 million to $5.0
million.
Concluded Mr. Jimenez: “This quarter’s
revenue shortfall will intensify continuing management concentration on
expenses and cash management. We continue to remain committed to
delivering value to our customer base, while at the same time returning
to quarter by quarter profitability and positive cash flow.”
ACE*COMM will announce its full financial results after the market close
on October 26, 2006. At that time management will hold a conference call
to discuss these results. Details of the call will be provided in a
separate release.
About ACE*COMM
ACE*COMM is a global provider of network business intelligence and
advanced operations support systems (OSS) solutions for telecom service
providers and enterprises. ACE*COMM’s
solutions are applicable to a range of legacy through next-generation
networks that include wired, wireless, voice, data, multimedia, and
Internet communications networks. These solutions provide the analytical
tools required to extract knowledge from operating networks—knowledge
customers use for asset recovery and revenue assurance, cost reduction,
improved operational efficiency, acceleration of time-to-market for new
services, and more effective customer care.
For over 20 years, ACE*COMM technology has been effectively deployed for
more than 300 customers, spanning over 4000 installations in 70
countries worldwide. ACE*COMM-installed products are currently enabling
the success of customers and partners such as Alcatel, AT&T, Cisco,
General Dynamics, IBM, Level 3 Communications, Marconi, Motorola,
Northrop Grumman, Siemens, and Unisys. Headquartered in the Washington,
DC area, ACE*COMM has corporate offices in Australia, Canada, China, and
the UK. ACE*COMM is an ISO 9001 compliant company. For more information,
visit www.acecomm.com.
ACE*COMM, NetPlus, the ACE*COMM logo, and N*VISION are registered
trademarks, and Convergent Mediation and Parent Patrol are trademarks of
ACE*COMM Corporation.
Except for historical information, the matters discussed in this news
release include forward-looking statements that are subject to certain
risks and uncertainties that could cause the actual results to differ
materially from those projected, including, but not limited to: the
failure of anticipated demand to materialize, delays or cancellations of
orders due to various factors, including business and economic
conditions in the U.S. and foreign countries; industry-wide slowdowns,
any limitations on customers’ financial
resources, the continued convergence of voice and data networks, the
continuing success of the Company’s strategic
alliances for product development and marketing, customer purchasing and
budgetary patterns or lack thereof; pricing pressures and the impact of
competitive products; the timely development and acceptance of new
products; the Company’s ability to adequately
support its operations, and other risks detailed from time to time in
the Company’s Report on Form 10-Q and other
reports filed with the Securities Exchange Commission.
ACE*COMM Corporation (NASDAQ:ACEC), a global provider of
value-added services and advanced operations support systems (OSS)
solutions, today announced that, based on a preliminary review of
results for the first quarter ended September 30, 2006, it expects to
report revenue of approximately $3.0 to $3.5 million and a net loss of
approximately $2.5 million.
"This quarter's results demonstrate the recurring challenges in
our traditional business and underscore our decision to position the
company as a significant provider of value-added services that - when
achieved - will improve revenue visibility and stability," said George
T. Jimenez, Chief Executive Officer of ACE*COMM. "ACE*COMM has
historically been dependent on large orders from a few customers to
generate the majority of our revenues in a given quarter. In recent
years, a growing number of these customers were internationally based
and tended to order large complex systems spanning multiple years, on
a non-recurring basis. This quarter we experienced delays in closing
new projects or extensions of ongoing projects with existing customers
that, if closed, we believe would have generated total revenue for the
quarter in the $6 to $7 million range."
Added Mr. Jimenez: "We are continuing to work the delayed
transactions and anticipate that the second half of the fiscal year
will show significant improvement over the first half. In addition, we
expect to see the first revenue streams from our Parent Patrol(TM)
product suite under managed services contracts already signed, and we
hope to receive additional bookings based on our distribution
agreements with Lucent and other parties. In addition, based on the
current schedule, we still expect to begin the delivery phase of the
Air Force contract in the beginning of calendar 2007."
As a result of project delays and the lower than expected
financial results for the first quarter, management now expects
revenue for the second quarter of fiscal 2007 to be in the range of
$4.0 million to $5.0 million.
Concluded Mr. Jimenez: "This quarter's revenue shortfall will
intensify continuing management concentration on expenses and cash
management. We continue to remain committed to delivering value to our
customer base, while at the same time returning to quarter by quarter
profitability and positive cash flow."
ACE*COMM will announce its full financial results after the market
close on October 26, 2006. At that time management will hold a
conference call to discuss these results. Details of the call will be
provided in a separate release.
About ACE*COMM
ACE*COMM is a global provider of network business intelligence and
advanced operations support systems (OSS) solutions for telecom
service providers and enterprises. ACE*COMM's solutions are applicable
to a range of legacy through next-generation networks that include
wired, wireless, voice, data, multimedia, and Internet communications
networks. These solutions provide the analytical tools required to
extract knowledge from operating networks--knowledge customers use for
asset recovery and revenue assurance, cost reduction, improved
operational efficiency, acceleration of time-to-market for new
services, and more effective customer care.
For over 20 years, ACE*COMM technology has been effectively
deployed for more than 300 customers, spanning over 4000 installations
in 70 countries worldwide. ACE*COMM-installed products are currently
enabling the success of customers and partners such as Alcatel, AT&T,
Cisco, General Dynamics, IBM, Level 3 Communications, Marconi,
Motorola, Northrop Grumman, Siemens, and Unisys. Headquartered in the
Washington, DC area, ACE*COMM has corporate offices in Australia,
Canada, China, and the UK. ACE*COMM is an ISO 9001 compliant company.
For more information, visit www.acecomm.com.
ACE*COMM, NetPlus, the ACE*COMM logo, and N*VISION are registered
trademarks, and Convergent Mediation and Parent Patrol are trademarks
of ACE*COMM Corporation.
Except for historical information, the matters discussed in this
news release include forward-looking statements that are subject to
certain risks and uncertainties that could cause the actual results to
differ materially from those projected, including, but not limited to:
the failure of anticipated demand to materialize, delays or
cancellations of orders due to various factors, including business and
economic conditions in the U.S. and foreign countries; industry-wide
slowdowns, any limitations on customers' financial resources, the
continued convergence of voice and data networks, the continuing
success of the Company's strategic alliances for product development
and marketing, customer purchasing and budgetary patterns or lack
thereof; pricing pressures and the impact of competitive products; the
timely development and acceptance of new products; the Company's
ability to adequately support its operations, and other risks detailed
from time to time in the Company's Report on Form 10-Q and other
reports filed with the Securities Exchange Commission.