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
Copyright 2017 Denver Business Journal