Lower bookings push down Evolving Systems revenue
Evolving Systems’ revenue in the second quarter declined to $4.4 million from $6.0 million in the same quarter last year due to lower bookings of Activation solutions related to longer sales cycles and the economic slowdown.
The company declared a third quarter dividend of $0.05 per share to stockholders of record on September 9, 2011, payable October 14, 2011.
It was the first quarterly reporting period in which the financial statements fully reflect the recent asset sale of the company's numbering business.
Revenue for the six months ended June 30, 2011, was $9.9 million, down from $12.1 million in the same period last year due to lower bookings due to longer sales cycles and the global economic downturn.