Wins up, losses down for Evolved in 3Q

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Evolved Digital Systems Inc. reported revenue increase and loss decrease in the third quarter of FY04 ending September 30.

Revenues increased 60 percent to $4.1 million, compared with $2.6 million in the third quarter of FY03. Net loss declined 86 percent to $1.3 million, compared with $9.4 million in the year-ago quarter.

For the nine month period, total revenues increased 68 percent to $12.7 million, compared with $7.5 million in the first nine months of FY03. Net loss declined 68 percent to $8.7 million, compared with $27.4 million in the year-ago period.