RTTNews | Mar 18, 2021 10:02AM EDT

10:01 Thursday, March 18, 2021 (RTTNews.com) - Shares of real-time digital engagement company Evolving Systems, Inc. (EVOL) are surging more than 40% Thursday morning following fourth quarter results.

The company reported net income of $587000 or $0.05 per share in the fourth quarter compared with net loss of $1.38 million or $0.11 per share last year.

Excluding items, adjusted earnings were $0.07 per share.

Revenue in the quarter increased 4.2% to $6.96 million from $6.68 million in the comparable year-ago period.

"During 2021, Evolving Systems will focus on increasing innovation and finding new growth opportunities. We plan to develop exciting new products that will grow existing client relationships, facilitate penetration into new markets, and reach new customers while continuing to generate sustainable long-term shareholder value," stated Matthew Stecker, the Company's Chief Executive Officer and Executive Chairman.

The stock touched a new high of $5.63 this morning, before sliding to trade at $4.62 currently.

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