Evolving Systems buys British tech firm, announces Q1 results

DENVER BUSINESS JOURNAL - Evolving Systems Inc. said it's purchased a British tech firm on the same day it reported first-quarter earnings.

The Douglas County-based software provider (Nasdaq: EVOL), which is currently in a nasty dispute with a New Jersey tech firm regarding control of that company's board, said it's buying UK-based Business Logic Systems Limited for $1.67 million.

Evolving Systems reported that first-quarter net income grew to $1 million, or 8 cents per share, from $400,000, or 4 cents per share a year earlier. But revenues fell to $5.9 million from $6.5 million a year earlier.

Company officials said they weren't surprised by the 9 percent drop in revenues.

Read more at the Denver Business Journal: http://bit.ly/2r1zHz5

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