DENVER BUSINESS JOURNAL — Evolving Systems Inc. reported a fourth-quarter loss of 3 cents a share and its stock was falling in early Tuesday trading.
The Douglas County-based software company (Nasdaq: EVOL) reported a fourth-quarter loss of $319,000, or a loss of 3 cents a share, compared with net income of $1.3 million, or earnings of 11 cents per share a year earlier.
Company officials said 2017 presented a challenge in the aftermath of buying United Kingdom-based Business Logic Systems Limited for $1.67 million in May and buying Lumata Holdings Ltd. of Great Britain for $4.7 million four months later.
"Over the past two quarters, we have worked diligently to integrate their operations, learning more about their customers and future needs, and concurrently, have identified several growth opportunities that leverage our combined offerings," said Thomas Thekkethala, CEO, in a statement.
Last year, Thekkethala and Evolving Systems were engaged in a nasty dispute with SITO Mobile Ltd. (Nasdaq: SITO) of Jersey City, New Jersey, with the New Jersey company claiming that Thekkethala and Evolving Systems were trying to take control over SITO; claims denied by the Douglas County company.
Read more at the Denver Business Journal: https://bit.ly/2Jh1dim
