Evolving Systems stretches positive run to eighteen quarters

Evolving Systems, a provider of software and services to the wireless, wireline and cable markets, has had its eighteenth consecutive quarter of positive operating profit.

This is the headline for its results for its fourth quarter and year ended 31 December 2010.

“Evolving Systems continued to produce strong bottom line results in 2010, highlighted by an 11% increase in net income,” said Thad Dupper (pictured), chairman and CEO. “Cash from operations increased 57% and our working capital and cash positions were up 147% and 101%, respectively.”

He said that new orders were impacted by longer sales cycles for its DSA dynamic sim allocation product, but the firm began to see renewed activity around its Activation products and expected first half 2011 orders to rebound following a sluggish fourth quarter.

“We added two new DSA wins in 2010, raising our total to eight DSA customers around the world, six of which are now in production,” Dupper said. “Our DSA customers have activated more than 25 million sim cards, and with the anticipated growth of wirelessly enabled consumer devices that require sim cards, we are confident that our DSA solution will become an increasingly important contributor to revenue.”

There was also good news from international markets during 2010, with new customers and others being taken into production in Asia, Africa, Central and South America as well as North America, where the firm won a large Numeri Track order with a tier one US carrier and a DSA order in Canada.

And in the first quarter, the company introduced its Intelligent M2M Controller – a machine to machine product for wireless service providers who are seeking to reduce costs, protect their networks and monetise growing opportunities in the M2M space.

Net profit for 2010 increased 11% to US$5.4m from $4.8m in 2009. Earnings per share increased to $0.53 per basic and $0.49 per diluted share in 2010 from $0.49 per basic and $0.48 per diluted share a year ago. Operating profit in 2010 declined to $6.2m, or 16.7% of turnover, from $6.7 m, or 17.5% of turnover, in 2009.

The company experienced a 2% decline in full year turnover, to $37.3m in 2010 from $38.2m a year ago. License fees and services revenue was $20.3m versus $21.6m in 2009, a decline that was partially offset by an increase in customer support revenue to $17.1m from $16.6m.

Net profit was $1.2m in the fourth quarter of 2010, down 18% from $1.4m in the same quarter last year. The company had operating profit of $1.2m in the fourth quarter compared with $1.9m in the same quarter last year. It was the company’s eigteenth consecutive quarter of positive operating profit. As a percentage of turnover, fourth quarter operating profit was 13.7% versus 19.1% a year ago.

Fourth quarter turnover was $8.6m, down from $9.8m in the same quarter last year, due to lower licence fees and services bookings related to longer sales cycles.


MicroEJ launches Managed-C support for safe, secure operation of connected systems

Posted on: December 2, 2022

Boston, United States – MicroEJ, the provider of software containers for IoT and embedded devices, announces support of the Managed-C programming language to reinforce the security and reliability of connected devices. Through software validation process and secure, containerised MicroEJ Virtual Execution Environment (VEE), this support empowers manufacturers to increase the security and reliability of connected systems

Read more

Powerfleet debuts IoT platform that unites people, assets, data to transform business operations

Posted on: December 2, 2022

Woodcliff Lake, United States – Powerfleet, Inc., a global of Internet of Things (IoT) software-as-a-service (SaaS) solutions that optimise the performance of mobile assets and resources to unify business operations, announced the launch of Powerfleet Unity, a new fleet intelligence platform that unites people, assets, and data together to transform the way its customers do business.

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more