AceComm Corp. / ACEC

About AceComm Corp.

704 Quince Orchard Rd., Gaithersburg, Md. 20878
www.acecomm.com | 301-721-3000 | Founded: 1983

Industry: Telecommunications | Category: Public Companies

AceComm Corp. endured a tough year, as revenue from its more traditional telecommunications work declined and the firm sought to expand into new markets.
In November, the company appointed Jim Greenwell president. Greenwell had been senior vice president at LCC International. Earlier this month, Greenwell became AceComm's CEO as well. Greenwell succeeded CEO George Jimenez, who remains executive chairman of the board.
Also last fall, the company announced the resignation of John Bennett, Greenwell's predecessor as president. He had been hired only the year before.
After reporting a profit of $319,000 in fiscal 2006, which ended in June, the firm reported a loss of $5.2 million for the first half of fiscal 2007. Company officials have attributed the losses to delays in projects with some overseas customers, Telecom Egypt and Telekom Malaysia, and a delay in an Air Force project in Iraq and elsewhere in the Middle East.
The company is focused on expanding into new markets, including parental control systems for cellular phones, an AceComm spokeswoman said. The software sold to a wireless carrier would allow a parent to control when and to whom a child makes calls, blocking the phone from working, for example, during study hall. There is also a version of the software that could be used by large businesses for cellular phones issued to employees. AceComm announced in February that Bell Aliant, a wireless firm in Canada, had begun the service in Atlantic Canada. Terms were not released.
The firm is also promoting new software called mJoin, which a company spokeswoman said would make it easier for cellphone customers to access their social network from their phones and encourage them to use premium minutes for services such as texting.

Chairman: George T. Jimenez

2006 Financial Data

Revenues: $26,671,000 | Net Income: $319,000
Asssets: $16,361,000 | Earnings Per Share: $0.02
Total employees: 128 | Local employees: 80