Evolving Systems, Inc. Nasdaq : EVOL
Address: 9777 Mt. Pyramid Court
Englewood, CO 80112
Phone: (303) 802-1000
Fax: (303) 802-1420
Industry: Software & Programming
Sector: Technology
Employees: 313
Officers: George Hallenbeck, Chmn./Pres./CEO
Harry Fair, Vice Chmn.
Roger Barnes, Sr. VP-Fin/Treas.
David Johnson, CFO/CAO
Anita Moseley, VP/Counsel/Secy.
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Business Summary
Evolving Systems, Inc. provides Operational Support Systems software solutions to telecommunications companies. For the nine months ended 9/30/98, revenues decreased 4% to $28.9 million. Net loss before extraordinary item totalled $7.4 million, up from $146 thousand. Revenues suffered from the completion in prior months of certain major LNP projects. Higher losses reflect increased spending due to staff increases related to MetOSS product development projects.
More from Market Guide: Highlights -Performance - Ratio Comparisons
Statistics at a Glance -- EVOL Last Updated: Feb 8, 1999
Price and Volume
(updated Feb 8, 1999)
52-Week Low $1.50
Recent Price $7.438
52-Week High $20.625
Beta N/A
Daily Volume (3-month avg) 88.8K
Share-Related Items
Market Capitalization $86.4M
Shares Outstanding 11.6M
Float 4.60M
Dividend Information
Annual Dividend none
Per-Share Data
Book Value (mrq) $3.64
Earnings (ttm) -$0.69
Sales (ttm) $4.60
Cash (mrq) $2.13
Valuation Ratios
Price/Book (mrq) 2.04
Price/Earnings N/A
Price/Sales (ttm) 1.62
Income Statements
After-Tax Income (ttm) -$6.99M
Sales (ttm) $41.5M
Profitability
Profit Margin (ttm) -17%
Management Effectiveness
Return on Assets (ttm) -17.14%
Return on Equity (ttm) -29.66%
Financial Strength
Current Ratio (mrq) 5.91
Long-Term Debt/Equity (mrq) 0.01
Total Cash (mrq) $24.6M
Short Interest
Shares Short
as of Dec 8, 1998 71.0K
Short Ratio 0.85
Stock Performance
big chart [1d | 5d | 3mo | 1yr]
See the Profile FAQ for a description of each item above; K = thousands; M = millions; mrq = most-recent quarter (Sep 30, 1998); ttm = trailing twelve months through Sep 30, 1998
Monday February 8, 7:33 am Eastern Time
Company Press Release
Evolving Systems Signs Multiyear Agreement With Lucent Technologies to Provide Customized Software Services
DENVER--(BUSINESS WIRE)--Feb. 8, 1999--Evolving Systems Inc. (NASDAQ:EVOL - news) has signed a multi-year agreement with Lucent Technologies to provide custom software support.
Under a new master agreement between the two companies, Evolving Systems will provide its wireless telecommunications development and integration expertise for Lucent's wireless packet data projects.
Evolving Systems is helping Lucent accelerate wireless data development for its global customers. The agreement also furthers Evolving Systems' mission to strengthen and maintain long-term relationships with its existing customers and provide world-class telecommunications solutions through products, integration and services that satisfy market needs.
''We're excited about the opportunity to expand and continue our work with Lucent,'' said George Hallenbeck, Evolving Systems president and chief executive officer. ''Our software expertise is helping Lucent's wireless intelligent networks to migrate to current hardware and software platforms for higher volumes and capacity, keeping their products competitive in today's marketplace.''
About Evolving Systems
Evolving Systems, based in Englewood, Colo., is a software development and systems integration firm providing a full range of business and operational support systems, services and product solutions for the telecommunications industry. Founded in 1985, Evolving Systems delivered the telecommunication industry's first-to-market software applications addressing local number portability at the service provider level. Evolving Systems' client base includes local exchange carriers (LECs), interexchange carriers (IXCs), competitive local exchange carriers (CLECs), wireless providers and network equipment suppliers. The company is listed on the NASDAQ National Market under the symbol EVOL.
To learn more about Evolving Systems, see its Web site at www.evolving.com.
In accordance with Section 21E of the SEC Act of 1934, as amended, this release contains forward-looking statements and should be read in conjunction with certain risk factors. Risk factors involved in investing in Evolving Systems are defined in the Company's Registration Statement on Form S-1 (No. 333-43973) which was declared effective by the SEC on May 11, 1998. The agreement mentioned in the release may have no material impact on the company's future earnings.
Editor's Note:
The Evolving Systems name and logo are trademarks of Evolving Systems, Inc. The Lucent name and logo are trademarks of Lucent Technologies.
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Contact:
Evolving Systems, Denver
Yvonne Amrine, 303/802-2467
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Insider Trades - EVOLVING SYS (Nasdaq:EVOL) Updated: 4-Feb-99
More Info: Quote | Chart | News | Profile | SEC | Research | Messages | Up/Downgrades
Date Name Action Shares Type Price Value
17-Dec-98 DIXON DONALD R Bought (P) 100 (i) Common 3.00 $300
16-Dec-98 DIXON DONALD R Bought (P) 29,000 (i) Common 3.00 $87,000
14-Dec-98 DIXON DONALD R Bought (P) 7,500 (i) Common 2.93 $21,975
10-Dec-98 DIXON DONALD R Bought (P) 3,000 (i) Common 3.04 $9,120
6-Dec-98 FAIR HARRY B Gave as Gift 250,000 Common - -
6-Dec-98 FAIR HARRY B Holdings 250,000 (i) Common - -
19-Nov-98 MOLNY DAVID J Exercised (M) 187 Common .80 -
4-Nov-98 PORTER TERRY C Exercised (M) 1,952 Common .80 -
2-Nov-98 JOHNSON DAVID R Initial Filing 0 Common - -
1-Sep-98 HALLENBECK GEORGE A Gave as Gift 100,000 Common - -
1-Sep-98 HALLENBECK GEORGE A Holdings 1,062,500 (i) Common - -
1-Jul-98 MOLNY DAVID J Exercised (M) 187 Common .80 -
26-May-98 TRIDENT CAPITAL Bought (P) 4,500 (i) Common 19.05 $85,725
26-May-98 DIXON DONALD R Bought (P) 4,500 (i) Common 19.05 $85,725
15-May-98 TRIDENT CAPITAL Bought (P) 75,000 (i) Common 14.00 $1,050,000
15-May-98 FAIR HARRY B Sold (S) 575,000 Common 14.00 $8,050,000
15-May-98 HALLENBECK GEORGE A Sold (S) 500,000 Common 14.00 $7,000,000
15-May-98 MOLNY DAVID J Sold (S) 10,000 Common 14.00 $140,000
15-May-98 MORGAN STANLEY VENTURE PARTNERS Bought (P) 75,000 (i) Common 14.00 $1,050,000
15-May-98 DIXON DONALD R Bought (P) 75,000 (i) Common 14.00 $1,050,000
15-May-98 LOARIE ROBERT J Bought (P) 75,000 (i) Common 14.00 $1,050,000
11-May-98 ABRAMSON J RICHARD Initial Filing 0 Common - -
11-May-98 CROSBY MARILU C Initial Filing 0 Common - -
11-May-98 FAIR HARRY B Initial Filing 2,175,000 Common - -
11-May-98 FINN JEFFREY J Initial Filing 0 Common - -
11-May-98 GAHAN ROBERT M Initial Filing 0 Common - -
11-May-98 HALLENBECK GEORGE A Initial Filing 2,625,000 Common - -
11-May-98 MOLNY DAVID J Initial Filing 83,437 Common - -
11-May-98 MORGAN STANLEY VENTURE PARTNERS Initial Filing 531,750 (i) Common - -
11-May-98 MOSELY ANITA T Initial Filing 1,008 Common - -
11-May-98 PORTER TERRY C Initial Filing 0 Common - -
11-May-98 TRIDENT CAPITAL INC Initial Filing 471,000 (i) Common - -
11-May-98 BARNES ROGER A Initial Filing 0 Common - -
11-May-98 DIXON DONALD R Initial Filing 471,000 (i) Common - -
11-May-98 LOARIE ROBERT J Initial Filing 531,750 (i) Common - -
11-May-98 ROSS JAMES M Initial Filing 1,500 Common - -
(i) indicates indirect holdings
Tuesday December 15, 3:33 pm Eastern Time
Company Press Release
Evolving Systems to Provide Qwest Local Number Portability System
DENVER--(BUSINESS WIRE)--Dec. 15, 1998--Evolving Systems (Nasdaq:EVOL - news) today announced that Qwest Communications International Inc. (Nasdaq:QWST - news), a multimedia communications company building one of the industry's most advanced, high-capacity, Internet Protocol-based fiber optic networks, will implement its local number portability (LNP) system.
Evolving Systems also will work closely with Qwest's Network Engineering team to integrate Evolving Systems' products with existing systems and to assist with enterprise workflow affected by LNP implementation.
Centered on Evolving Systems' NumberManager™ Local Service Management System product, the LNP system will allow Qwest to correctly route calls carried on the national network, accurately bill customers who have changed local carriers, provide back office systems with correct information about customers' telephone numbers, avoid dip charges, and gain access to important information that will assist in solving customer problems.
''When evaluating LNP vendors, we felt Evolving Systems would clearly be able to meet our current and future needs,'' said Mike Perusse, vice president of network systems engineering for Qwest. ''Evolving Systems has the ability to work closely with us as we make the transition to LNP as seamless as possible.''
''By the middle of next year, Qwest's network will be available in the 130 cities that are responsible for 80 percent of the data and voice traffic originating in the United States,'' said George Hallenbeck, Evolving Systems president and CEO. ''To keep pace with the LNP needs that Qwest's massive network will require, they have asked Evolving Systems, an innovator in LNP technology, to help meet its needs. We began in a consulting role and now are providing products and full-scale integration. We look at this as a long-term relationship where we work with Qwest to achieve its goals.''
In another example of the relationship between the two companies, Evolving Systems has chosen Qwest to provide connectivity from Evolving Systems' data center to the NPAC for local service order administration (LSOA) activities. In October 1998, Evolving Systems launched its Service Bureau offering to provide LSOA services for competitive local exchange carriers (CLECs) to communicate with the Number Portability Administration Centers (NPACs). Qwest will be providing Evolving Systems with the connection between the company and the NPAC so that CLECs can port numbers in advance of deploying a comprehensive LNP solution.
About Evolving Systems
Evolving Systems, based in Englewood, Colo., is a software product development and systems integration firm providing a full range of business and operational support services and solutions for the telecommunications industry. Founded in 1985, Evolving Systems delivered the telecommunication industry's first-to-market software applications addressing local number portability at the service provider level. Evolving Systems' client base includes local exchange carriers (LECs), interexchange carriers (IXCs), competitive local exchange carriers (CLECs), wireless providers and network equipment suppliers. To learn more about Evolving Systems, see its Web site at www.evolving.com.
About Qwest
Qwest Communications International Inc. (Nasdaq:QWST - news) is a leader in reliable and secure broadband Internet-based data, voice and image communications for businesses and consumers. Headquartered in Denver, Qwest has more than 8,000 employees and 80 sales offices in North America, Europe and Mexico. The Qwest Macro Capacity (SM) Fiber Network, designed with the newest optical networking, will span more than 18,500 route miles in the United States when it is completed in mid-1999.
In accordance with Section 21E of the SEC Act of 1934, as amended, this release contains forward-looking statements and should be read in conjunction with certain risk factors. Risk factors involved in investing in Evolving Systems are defined in the Company's Registration Statement on Form S-1 (No. 333-43973) which was declared effective by the SEC on May 11, 1998. The agreement mentioned in the release may have no material impact on the company's future earnings.
Editor's Note: The Evolving Systems logo and NumberManager are trademarks of Evolving Systems, Inc.
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Contact:
Evolving Systems, Englewood
Yvonne Amrine, 303/802-2467
or
M/C/C
Jim Terry, 972/480-8383
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