Evolving Sys (EVOL) Misses Q2 EPS by 2c

Evolving Sys (NASDAQ: EVOL) reported Q2 EPS of $0.07, $0.02 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $6.1 million versus the consensus estimate of $6.82 million.

"We fell short of expectations in the second quarter as revenue and bookings came in below our estimates," said Thad Dupper, Chairman and CEO. "During the quarter we observed carriers' budgets tightening and becoming less predictable as they dealt with competition from aggressive price plans and flattening of subscriber net adds, all of which made closing contracts and forecasting more of a challenge than in past quarters. Over the years our quarterly results have fluctuated, but we are pleased that despite lower revenue this quarter, our profitability metrics and our balance sheet remain strong.

"Our long-term outlook for growth is positive, especially in the developing markets where subscriber growth is six times greater than the developed markets of North America and Europe," Dupper added. "We have made our biggest investments in the emerging markets and, as a result, we believe we are well positioned to achieve long-term growth. We are increasing our investment in partner management and business development to accelerate the pace at which our DSA partnerships start generating revenue."

For earnings history and earnings-related data on Evolving Sys (EVOL) click here.

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