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Evolving Systems Reports Full Year Profit

March 13, 2013 |
ENGLEWOOD, Colo. -- Evolving Systems, Inc. ( NASDAQ : EVOL ), a leading provider of strategic solutions to telecom operators worldwide, today reported strong revenue and profit growth for its fourth quarter and full year ended December 31, 2012.

"Evolving Systems closed 2012 with a strong fourth quarter performance that led to a 38% increase in full year revenue with adjusted EBITDA from continuing operations of $6.5 million," said Thad Dupper, Chairman and CEO. "Last year was a transformational year for Evolving Systems. It was our first full year since the sale of our numbering business in 2011 -- an event that allowed us to focus on our 'activation pure play' strategy, which revolves around our flagship DSA and Tertio® Service Activation (TSA) products. Solid execution of our strategy produced 94% growth in DSA revenue, which at $10.0 million was our highest DSA revenue since its introduction. We also achieved a 17% increase in TSA revenue as carriers upgraded to LTE and 4G technologies. In addition, we returned $4.00 per share to stockholders through a series of dividends during the year. We believe carriers faced with increasingly complex SIM card inventory management and activation issues driven by consumer adoption of smart phones, tablets and connected devices will see the value of our DSA solution. As a result, we are raising this quarter's dividend from $0.05 to $0.08 per share and we remain optimistic about Evolving Systems' future."

Evolving Systems Inc.



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