Evolving Systems Touts Positive 4Q Numbers

Colorado-based Evolving Systems (EVOL), a provider of software solutions and services, is thumbing its nose at the poor global economy.

The company has released its numbers for the fourth quarter of 2008. Evolving Systems reports increased revenue, net income, license/services orders and backlog – not only for 4Q, but for all of ’08.

Some of the 4Q financial report’s highlights include:

• Net income increased 535 percent to $1.8 million.
• Revenue increased 11 percent to $10M from $9.1M in the same quarter a year ago.
• Total costs of revenue and operating expenses declined by 5 percent to $8.2M from $8.6M.
• Income from operations was $1.9 million, up 271 percent from $500,000 in 4Q last year.