Brief: Evolving Systems Reports Q2 Loss Per Share $0.57

Symbolic Logic

19/08/2019 21:10

Aug 19 (Reuters) - Evolving Systems Inc  EVOL.O :
    * EVOLVING SYSTEMS REPORTS SECOND QUARTER 2019 FINANCIAL
RESULTS
    * Q2 REVENUE FELL 23.1 PERCENT TO $6.3 MILLION
    * Q2 OPERATING AND NET LOSS WAS $7.0 MILLION
    * QTRLY LOSS PER SHARE $0.57
    * EVOLVING SYSTEMS - CASH AND CASH EQUIVALENTS AS OF JUNE 30
WAS
$5.3 MILLION, A DECREASE OF $1.4 MILLION OR 21% COMPARED TO $6.7
MILLION AS OF DECEMBER 31, 2018
    * EXCLUDING EFFECT OF GOODWILL IMPAIRMENT, OPERATING LOSS
WOULD
HAVE BEEN $0.3 MILLION IN QUARTER
    * NON-CASH CHARGE FOR IMPAIRMENT OF GOODWILL OF $6.7 MILLION
IN
QUARTER
    * BELIEVE THERE IS AMPLE CASH ON HAND AND LIQUIDITY IN
WORKING
CAPITAL TO FUND BUSINESS AND CONTINUED STRATEGIC INVESTMENTS

Source text for Eikon:  ID:nGNX95JqSf 
Further company coverage:  EVOL.O 

 ((Reuters.Briefs@thomsonreuters.com;))