Page 6 of 11
No. 6: WIDEPOINT
Steven Komar, CEO
Obermatt/CRN Pay-For-Performance Index: Underpaid by 55 percent
Governmental gridlock has been challenging for solution providers specializing in the public sector. WidePoint CEO Steven Komar has been able to navigate the company through the tumult of the past several years, but it hasn't been easy. Although net income rose 350 percent between 2009 and 2010, federal and local governments -- WidePoint's primary customer base -- tightened their purse strings in 2011. As a result, WidePoint's earnings plummeted from $6.4 million in 2010 to $247,000 in 2011. But with total compensation of just $237,200, Komar is underpaid by 55 percent, according to the Obermatt/CRN Pay-For-Performance Index. WidePoint did not return calls and emails for comment.
Komar has been WidePoint's CEO since December 2001. His total compensation has increased 27 percent since 2009.
Positioning for a rebound, Komar is targeting and expanding the communications management customer base to include the municipal government marketplace. Recently, the Oakbrook Terrace, Ill., company won communications management contracts with the state of Nevada and the Western States Contracting Alliance led and issued by the state of Utah. In addition, the cybersecurity segment of WidePoint's operations will focus on several federal security mandates and initiatives and will benefit from backlogged government-mandated programs scheduled for release in 2012.
Part of Komar's strategy includes WidePoint's acquisition last year of Avalon Global Solutions in a transaction that broadened the solution provider's federal customer base. The purchase also added more than 70 commercial customers and expanded the company's cross-selling capabilities.
Throughout the rest of the year, Komar plans to enhance the firm's cloud-based trusted device and identity assurance solutions and offer expanded security and mobile device management solutions, as well as expand its international reach.
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