ACE*COMM Corporation (NASDAQ:ACEC), a provider of advanced OSS, value-added services, and network business intelligence solutions, today reported financial results for the quarter ended March 31, 2006, the third quarter of its 2006 fiscal year. The Company reported revenues of $6.7 million for the quarter, which compares to $3.8 million for the comparable quarter of fiscal year 2005. Net profit for the quarter was $365 thousand, or $0.02 per share, compared to a net loss of $6.6 million, or $0.47 per share, for the same quarter in the prior year.
For the nine months, revenues were $20.1 million which compares to $13.2 million for the same nine months period last year. Net profit for the nine months ended March 31, 2006 was $812 thousand or $0.05 per share as compared to a net loss of $6.8 million or $0.49 per share in the same nine months last year.
“These results represent performance consistent with our strategic growth plan,” said George T. Jimenez, CEO of ACE*COMM. “We have demonstrated improving earnings growth and strong year-over-year revenue increases, while at the same time bringing new products to market.”
– Launched new content filtering capabilities for Parent Patrol(TM); announced partnership with RuleSpace, industry’s top content classification solutions provider
– Introduced hyper-convergent product for valuation of network-based charges and services
– Announced technology partnership with Experian, global leader in consumer-level information, to supply new demographic data capabilities for Market Maker(TM) market visualization tool
– Announced Enterprise Patrol(TM) – new solution for businesses that need to rein in the high cost of corporate mobile phone use
– Introduced Network Business Intelligence capabilities for enterprise telecom systems
– Unveiled Market Maker(TM) for GSM operators
Continued Mr. Jimenez: “We launched a number of new and upgraded revenue-generating value-added services, and solutions for the emerging network business intelligence (NBI) market. Most significantly:
– The recent release of Parent Patrol(TM) with content filtering capabilities, strengthens our ability to take full advantage of a tremendous market opportunity unfolding before us – enabling carrier’s to capitalize on high-growth mobile youth segments by offering tools for parental controls.
– We also launched Market Maker(TM) with new demographic data views designed to arm service providers with robust consumer profiling and demographic data capabilities so that they can more effectively offer targeted services to their best customer prospects. We believe that this offering is an attractive solution for the proliferating carrier demand for services that maximize revenue and engender customer loyalty.
Our stated growth strategy highlights the development of vertical solutions, based on our core technologies, to expand our portfolio of offerings with which to penetrate the Tier 1 carrier segment. This quarter’s product and technology announcements clearly indicate that we are making progress in line with our plan.”
Concluded Mr. Jimenez: “In tandem with our new product directions, we worked to significantly upgrade our core, field-proven advanced OSS products to ensure we maintain our market position, are able to show a clear upgrade path for existing customers, and can attack Tier 1 market with high margin, value-added services. Together, our product sets offer advanced, robust and compelling solutions for the challenges that service providers now face in an evolving industry.”