Evolving Systems Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported GAAP income from operations of $1,626,000, GAAP income before income taxes of $1,708,000, GAAP net income of $1,328,000 or $0.13 GAAP diluted per share, non-GAAP net income of $1,678,000 or $0.16 non-GAAP per share and adjusted EBITDA of $2,203,000 against GAAP income from operations of $834,000, GAAP income before income taxes of $715,000, GAAP net income of $593,000 or $0.06 GAAP diluted per share, non-GAAP net income of $1,079,000 or $0.11 non-GAAP per share and adjusted EBITDA of $1,583,000 for the same period a year ago. For the nine months, the company reported GAAP income from operations of $4,812,000, GAAP income before income taxes of $3,837,000, GAAP net income of $3,399,000 or $0.34 GAAP diluted per share, non-GAAP net income of $4,405,000 or $0.44 non-GAAP per share and adjusted EBITDA of $6,483,000 against GAAP income from operations of $2,054,000, GAAP income before income taxes of $1,285,000, GAAP net income of $1,124,000 or $0.11 GAAP diluted per share, non-GAAP net income of $2,668,000 or $0.27 non-GAAP per share and adjusted EBITDA of $4,500,000 for the same period a year ago.

Evolving Systems Inc. announced that a Southeast Asian operator will be expanding its roll-out of the Company's Dynamic SIM Allocation(TM) solution. The decision to migrate to a nationwide deployment of Dynamic SIM Allocation follows on the operator's decision to implement the solution earlier this year. The addition of the number selection component will help the operator build customer loyalty and increase retention in this highly competitive wireless market.

Evolving Systems Inc., Q3 2009 Earnings Call, Nov-03-2009