<PAGE>  1
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549

                              FORM 10-Q


[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
            OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 1998

                          OR

[ ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR
            15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


Commission file number 0-12807

                            PHOTOCOMM, INC.
          ------------------------------------------------------ 
          (Exact name of registrant as specified in its charter)

            Arizona                                   86-0411983
-------------------------------                 --------------------
(State or other jurisdiction of                 (I.R.S. Employer
 incorporation or organization)                  Identification No.)

                  4585 McIntyre St. Golden, CO 80403
              -------------------------------------------
                (Address of principal executive offices)
                              (Zip Code)

                            (303) 271-7500
         ----------------------------------------------------
         (Registrant's telephone number, including area code)

               7681 East Gray Road, Scottsdale, AZ 85260
             ----------------------------------------------
             (Former name, former address and former fiscal
                   year, if changed since last report)

   Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days.  Yes /X/ No / /

At May 11, 1998 16,667,169 shares of the Registrant's Common Stock
were outstanding.  

<PAGE>  2
            PHOTOCOMM, INC. d/b/a GOLDEN GENESIS COMPANY

                                 INDEX




PART I   Financial Information                         Page Number


Item 1.  Financial Statements

         Consolidated Balance Sheets - March 31, 
          1998 and December 31, 1997                        3

         Consolidated Statements of Operations - 
          Three Months ended March 31, 1998 and 1997        4

         Consolidated Statements of Cash Flows - 
          Three Months ended March 31, 1998 and 1997        5

         Notes to Consolidated Financial Statements         6


Item 2.  Management's Discussion and Analysis
          of Financial Condition and Results of
          Operations                                        7



PART II   Other Information

Item 6.   Exhibits and Reports on Form 8-K                 10

<PAGE>  3

I.  FINANCIAL INFORMATION
ITEM 1.  FINANCIAL STATEMENTS

               PHOTOCOMM, INC. d/b/a GOLDEN GENESIS COMPANY
                        CONSOLIDATED BALANCE SHEETS
                               
                                           March 31,      December 31,
                                             1998            1997
Assets                                    (Unaudited)
Current Assets
  Cash and cash equivalents               $   597,156    $ 1,182,307
  Accounts receivable, net                  8,708,749      7,276,527
  Inventories                               6,511,186      5,810,400
  Property held for sale, net               1,017,779      1,017,779
  Deferred tax asset                          193,343        193,343
  Other current assets                        179,403        221,546
     Total Current Assets                  17,207,616     15,701,902

Property and equipment, net                 1,760,361      1,683,560
Deferred tax asset                            156,657        156,657
Goodwill, net                               2,714,032      1,620,280
Other assets, net                             399,462        342,243
     Total Assets                         $22,238,128    $19,504,642
                                           ==========     ==========
Liabilities and Stockholders' Equity
Current Liabilities
  Current installments of long-term debt  $    80,701    $    81,787
  Accounts payable                          4,237,081      2,912,173
  Other accrued expenses                      715,806        654,227
     Total Current Liabilities              5,033,588      3,648,187
Long-term debt, less current installments   4,881,252      4,150,479
     Total Liabilities                      9,914,840      7,798,666

Commitments and contingencies

Stockholders' Equity
  Preferred stock: $.001 par value,
     5,000,000 shares authorized
    Series A 12% convertible preferred stock,
     125,000 shares authorized; 38,972
     shares issued and outstanding                 39             39
    Series AA 11% convertible preferred stock,
     200,000 shares authorized; 44,165 shares 
     issued and outstanding                        44             44
  Common stock: $.10 par value, 25,000,000
     shares authorized; 16,660,544 and 
     16,245,044 shares issued and
     outstanding, respectively              1,666,054      1,624,504      
Additional paid-in capital                 16,628,746     16,121,249
     Accumulated other comprehensive loss    (565,411)      (439,890)
     Accumulated deficit                   (5,406,184)    (5,599,970)
     Total Stockholders' Equity            12,323,288     11,705,976
     Total Liabilities and Stockholders'   
      Equity                              $22,238,128    $19,504,642
                                           ==========     ==========
See accompanying notes to consolidated financial statements.

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              PHOTOCOMM, INC. d/b/a GOLDEN GENESIS COMPANY
                 CONSOLIDATED STATEMENTS OF OPERATIONS
                              (UNAUDITED)

                     
                                               Three Months Ended
                                                    March 31     
                                               1998         1997

Sales, net                                 $ 9,792,325   $ 6,369,950
Cost of sales                                7,903,914     4,874,889
     Gross profit                            1,888,411     1,495 061

Selling, general and                         1,718,337     1,662,840
 administrative expenses

     Income (loss) from operations             170,074      (167,779)

Other income (expenses):
     Interest expense                          (88,498)      (14,196)
     Other income (expense), net               (13,309)       (5,773)

Income (loss) before income taxes               68,267      (187,748)
    
Income tax                                        -             -    

     Net income (loss)                          68,267      (187,748)

Preferred stock dividends                        1,169        14,519

Net income (loss) applicable to common
 stockholders                              $    67,098   $  (202,267)
                                             =========     =========

Net income (loss) per basic share of 
 common stock                             $       0.00   $     (0.01)
                                             =========     =========

Weighted average shares outstanding
  - basic                                   16,547,266    16,164,722
                                            ==========    ==========
Net income (loss) per diluted share of 
 common stock                             $       0.00   $     (0.01)
                                             =========     =========

Weighted average shares outstanding
  - diluted                                 16,961,825    16,164,722
                                            ==========    ==========

Comprehensive loss                        $    (57,254)  $  (201,681)
                                            ==========    ==========
See accompanying notes to consolidated financial statements.

<PAGE>  5

              PHOTOCOMM, INC. d/b/a GOLDEN GENESIS COMPANY
                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (UNAUDITED)

                                                   Three Months Ended
                                                        March 31,    

                                                  1998         1997
Cash flows from operating activities:
Net income (loss)                             $   68,267   $ (187,748)
Adjustments to reconcile net income to
 net cash used in operating activities, 
 net of effects of acquisitions:
     Depreciation and amortization               160,729      121,761
     Change in accounts receivable              (782,942)     934,637
     Change in inventories                     1,213,114   (1,162,194)
     Change in accounts payable and
      accrued expense                         (1,337,688)     (66,573)
     Change in other current assets               42,143       17,535
Net cash used in operating activities           (636,377)    (342,582)

Cash flows from investing activities:
     Purchase of property and equipment         (155,581)    (136,491)
     Cash paid for acquisitions and other 
      assets, net of cash acquired              (369,948)      (7,982) 
Net cash used in investing activities           (525,529)    (144,473)

Cash flows from financing activities:
     Repayments of debt                         (196,643)    (498,884)
     Proceeds from issuance of debt              750,000      102,250
     Proceeds from issuance of common stock       23,398       56,889
     Cash dividends on preferred stock              -         (14,519)
Net cash provided by (used in) 
 financing activities                            576,755     (354,264)

Net decrease in cash and cash equivalents       (585,181)    (841,319)
Cash and cash equivalents at beginning
 of period                                     1,182,307    1,377,898

Cash and cash equivalents at end of period    $  597,156   $  536,579
                                               =========    =========

Non-cash investing and financing activities:
Stock issued for acquisitions                 $  650,000

See accompanying notes to consolidated financial statements.

<PAGE>  6

                 PHOTOCOMM, INC. d/b/a GOLDEN GENESIS COMPANY
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               MARCH 31, 1998
                                (UNAUDITED)

NOTE 1.   Inventories

Inventories consist of the following:

                                              March 31,   December 31,
                                                1998         1997
Raw materials and goods purchased for resale $6,499,251   $5,702,452
Work-in-process                                 141,521      209,494

Less allowance of obsolescence                 (129,586)    (101,546)
Total Inventories                            $6,511,186   $5,810,400

NOTE 2.   Reclassifications

Certain reclassifications have been made in the 1997 financial statements
to conform to the classifications used in 1998.  In addition, all earnings
per share data presented have been adjusted for the adoption of Statement
of Financial Accounting Standards ("SFAS") No. 128 "Earnings Per Share."  

Note 3.   Acquisition

On January 23, 1998 the Company acquired Silicon Energy Corporation, a
California corporation doing business as Utility Power Group ( UPG ).  UPG,
headquartered in Chatsworth, California, functions as a value added systems
integrator of solar electric products, specializing in on-grid and off-grid
solar and hybrid power systems. The acquisition was structured as a merger
with Utility Power Group, Inc., a wholly owned subsidiary of Photocomm,
Inc. (the "Company"), as the surviving corporation.  The aggregate
consideration paid by the Company in connection with this merger was
$1,250,000.  The Company issued 400,000 shares of its common stock valued
at $650,000 and paid $600,000 in cash.  The Company s principal stockholder
financed the cash portion of the merger. The acquisition of UPG was
accounted for as a purchase and has been included in the Company s results
of operations since January 23, 1998. Accordingly, the purchase price was
allocated to the net assets acquired based upon their estimated fair market
values.  The excess of purchase price over the fair market values of net
assets acquired of $1,134,102 is being amortized over 20 years using the
straight-line method.

Note 4.   New Accounting Standards

SFAS No. 130, "Reporting Comprehensive Income," was issued in June 1997. 
The statement establishes standards for reporting and display of
comprehensive income in financial statements.  This statement was adopted
by the Company in the first quarter of 1998.  The Company's comprehensive
income consists of net income, preferred stock dividends and certain
foreign currency translation adjustments.

SFAS No. 131, "Disclosures about Segments of an Enterprise and Related
Information," was issued in June 1997.  This statement establishes
standards for the way public business enterprises report information about

<PAGE>  7

operating segments.  It also establishes standards for related disclosure
about products and services, geographical areas and major customers.  This
statement is effective for the Company s financial statements for the year
ended December 31, 1998 and the adoption of this standard is not expected
to have a material effect on the Company s financial statements.  


Item 2.   Management's Discussion and Analysis of Financial Conditions and
          Results of Operations

Business Overview

The Company markets, engineers, manufactures and distributes solar electric
systems utilized primarily in remote areas.  Areas generally include those
where electric power is needed but access to electricity is not available,
costs are relatively high or access is inconvenient. Two primary markets
compose the majority of the Company s results from operations: the
industrial market and the distribution market.

The Company services a variety of customers in the industrial market. These
customers have power generation needs for communication systems, traffic
signal systems and remote monitoring systems.  In addition, the industrial
market includes customers that use solar electric systems connected
directly into power grids.  

The Company s distribution market includes more than 500 solar energy
dealers, which are predominantly located in North and South America. The
Company delivers a wide range of solar modules and related hardware to the
dealer network.  The distribution market also includes retail sales through
Sunelco its wholly owned subsidiary, a system integrator and mail-order
design firm, and direct sales to end users of prepackaged solar systems for
recreational vehicles and boats and water pumping systems for small
residential customers or large agricultural and village applications.

The Company s operating results reflect the strategic decisions to increase
marketing resources to expand current domestic and international sales and
activities to consolidate manufacturing, operations support and
administration.  Management believes that the consolidation will allow the
Company to serve customers with higher quality goods and services at a
lower overall cost.  

Results of Operations

Three months ended March 31, 1998 vs. three months ended March 31, 1997.

Sales:  Sales for the first quarter of 1998 were $9,792,325, a 54% increase
over the $6,369,950 for the first quarter of 1997.  First quarter revenue
included an increase in base business operations of $1,201,375 or 19% and
sales of $2,221,000 from the recently acquired Utility Power Group ("UPG")
subsidiary and contracts resulting from the acquisition of certain assets
of Integrated Power Corporation ("IPC").  

The Company's sales mix in the first quarter of 1998 was approximately 64%
industrial products and 36% distribution sales as compared to 40%
industrial products and 60% distribution during the first quarter of 1997. 
The shift was largely due to the addition of sales by Utility Power Group,

<PAGE>  8

two large projects delivered to telecommunications customers which are
industrial businesses and decreased sales by the Australia subsidiary which
is primarily a distribution business.

Gross Profit: Gross Profit increased 26% from $1,495,061 in the first
quarter of 1997 to $1,888,411 in the first quarter of 1998.  Gross profit
margins decreased from 23% in the first quarter of 1997 to 19% in the first
quarter of 1998.  The decrease in gross profit margin was primarily due to
an increase in competition in both the distribution and industrial markets
and the inclusion of sales of UPG and two telecommunications projects
shipped internationally which were at lower margins than the Company's
historical margins.  As the Company enhances its reputation in the
international market through the successful completion of the current
projects the Company believes it will be able to command greater margins
for superior products and services.  In addition the Company believes it
will be able to reduce operating costs through the consolidation of
manufacturing, operations and administration in the new Scottsdale
facility.  

Selling, General and Administrative Expenses ("SG&A"):  SG&A expenses
increased 3% from $1,662,840 in the first quarter of 1997 to $1,718,337 in
the first quarter of 1998. SG&A as a percentage of sales decreased from 26%
in the first quarter of 1997 to 18% in the first quarter of 1998.  The
decrease in SG&A as a percentage of sales is a result of the Company's
strategy of consolidating operations, manufacturing and administration in
Scottsdale Arizona.  

Other Income (Expense):  The Company's non-operating income and expense is
primarily comprised of interest expense and consulting income.

Income Tax: The Company did not recognize any income tax benefit or expense
for the three months ended March 31, 1998 or 1997. Realization of the net
operating losses generated in prior periods is dependent on generation of
future taxable income and limited by ownership changes. At this time,
management has determined that it is more likely than not that $350,000 of
the deferred tax asset will be realized and therefore has provided a
valuation allowance for all but $350,000 of the deferred tax asset. The
realizability of the deferred tax asset will be monitored on a quarterly
basis.

Net Income (Loss):  The Company reported a net income of $68,267, or $0.004
per diluted common share, for the first quarter of 1998 versus net loss of
$187,748, or $0.01 per diluted common share, for the first quarter of 1997. 
Increased sales partially offset by the lower sales margins as discussed
above are primarily responsible for the increase in net income.

Liquidity and Capital Resources

The Company s liquidity is generated from both internal and external sources
and is used to fund short-term working capital needs, capital expenditures
and acquisitions.  Internally generated liquidity is measured by net cash
flows from operations, as discussed below, and working capital.  At March 31,
1998, the Company s working capital (current assets minus current
liabilities) was $12,174,028 with a current ratio (current assets divided by
current liabilities) of 3.42 to 1.

<PAGE>  9

The Company has established an unsecured, $4,750,000 line of credit with ACX,
the parent of the Company s majority shareholder.  This facility bears
interest, payable quarterly, at 1% below prime.  The principal balance is due
October 31, 2000. At December 31, 1997, the Company had borrowed $4,750,000
under this line for use in funding working capital needs, capital
expenditures, and the July 1997 acquisition of the assets and certain
contracts of IPC and the January 1998 acquisition of UPG.

As shown in the Consolidated Statement of Cash Flows, net cash used by
operations was $636,377 and $342,582 for the first quarter of 1998 and 1997,
respectively.  An increase in accounts receivable resulting from the
Company s significant revenue growth accounts for the increased use of cash
for operations between the first quarter of 1997 and the first quarter of
1998.   

During the first quarter of 1998, the Company invested $155,581 in capital
expenditures to upgrade equipment.  This represents an increase of $19,090
over capital expenditures in the first quarter of 1997. The Company invested
$369,948 net of cash acquired for the purchase of UPG in the first quarter of
1998.  The UPG purchase included inventory at $1,977,000, accounts receivable
at $710,000 and liabilities at $2,724,000.  

Although no assurances can be made, the Company currently expects that cash
flows from operations and access to its line of credit will be sufficient to
meet the Company s needs for working capital, temporary financing for capital
expenditures and acquisitions.

The impact of inflation on the Company s financial position and results of
operations has been minimal and is not expected to adversely affect future
results.

Management has initiated an enterprise-wide program to prepare the Company s
computer and operating systems and applications for the year 2000. The
Company expects to incur internal staff costs as well as consulting and other
expenses related to the year 2000 project. At this point, the Company is not
able to determine the estimated cost for its year 2000 project and, whether
it will have a material impact on the operations of the Company.  

These statements should be read in conjunction with the financial
statements and notes thereto included in the Company's Form 10-K for the
year ended December 31, 1997.  The accompanying financial statements have
not been examined by independent accountants in accordance with generally
accepted auditing standards, but in the opinion of the management of the
Company, such financial statements include all adjustments necessary to
summarize fairly the Company's financial position and results of
operations.  All adjustments made to the interim financial statements
presented are of a normal recurring nature.  The results of operations for
the three month period ended March 31, 1998 may not be indicative of
results that may be expected for the year ending December 31, 1998.

Forward-Looking Statements

The statements made in this Report that are not historical facts contain
forward-looking information that involves risks and uncertainties. 
Important factors that may cause actual results to differ from such
forward-looking statements include, but are not limited to, market demand

<PAGE>  10

and acceptance of the Company's products, the impact of competitive
technologies, products and services, risks associated with any litigation
and claims to which the Company may be a party, availability of critical
materials or supply, the effect of economic and business conditions and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.

PART II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)    Exhibits

The following Exhibits are filed as part of this Report:

Exhibit
Number        Description                                            Page

3.1       Articles of Merger (filed as Exhibit 3-B to the
          Company's Annual Report on Form 10-KSB for the year
          ended August 31, 1988 and incorporated herein by
          reference).

3.2       Third Amended and Restated Articles of Incorporation
          of the Company (filed as Exhibit 3-D to the Company's
          Quarterly Report on Form 10-QSB for the quarter ended
          May 31, 1990 and incorporated herein by reference).

3.3       Amended and Restated Bylaws of the Company dated
          November 19, 1996 (filed as Exhibit 3.3 to the 
          Company s Annual Report on Form 10-KSB for the year 
          ended August 31, 1996 and incorporated herein by 
          reference). 

3.4       Amended and Restated Bylaws of the Company dated
          February 11, 1998 (filed as Exhibit 3.2 to Form 8-K
          on February 18, 1998 and incorporated herein by reference).

4.1       Specimen Certificate representing the Common Stock
          of the Company (filed as Exhibit 4-A to the Company's
          Annual Report on Form 10-KSB for the year ended August
          31, 1988 and incorporated herein by reference).

4.2       Specimen Certificate representing the Series A
          Convertible Preferred Stock of the Company (filed as
          Exhibit 4.2 to the Company's Form S-3 dated September
          19, 1994 and incorporated herein by reference).

4.3       Specimen Certificate representing the Series AA
          Convertible Preferred Stock of the Company (filed as
          Exhibit 4.3 to the Company's Form S-3 dated September
          19, 1994 and incorporated herein by reference).

4.4       Specimen Certificate representing the Series B
          Convertible Preferred Stock of the Company (filed as
          Exhibit 4.4 to the Company's Form S-3 dated September
          19, 1994 and incorporated herein by reference).

4.5       Registration Rights Agreement between the Company,  
          and Golden Technologies, Inc. and ACX Technologies,
          Inc. dated November 21, 1996 (filed as Exhibit 4.5 to
          the Company s Annual Report on Form 10-KSB for the year
          ended August 31, 1996 and incorporated herein by reference).

<PAGE>  11

10.1      Agreement and plan of merger between Photocomm, Inc. and
          Silicon Energy Corporation dated January 23, 1998 (filed as 
          Exhibit 2.1 to Form 8-K on February 18, 1998 and incorporated 
          herein by reference).
 
27    Financial Data Schedule                                           12

(b)    Reports on Form 8-K

Form 8-K dated January 23, 1998 Acquisition of Utility Power Group, amended
and restated bylaws and potential litigation.



                              SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Date: May 14, 1998 

PHOTOCOMM, INC.


By:  /s/ John K. Coors              By:  /s/ Jeffrey C. Brines 
     John K. Coors                       Jeffrey C. Brines
     Chief Executive Officer             Chief Financial Officer
                                         (Duly Authorized Officer and
                                         Principal Financial Officer)