It's not often you hear a fund manager suggest that the company consider whether it should be operating as a publicly held organization. But first the numbers. Revenue rose to $21.4 million in the most recently ended quarter, up from $11.8 million in last year's corresponding quarter. Edgewater lost $22.7 million, compared to $249 million a year earlier, primarily from the impact of $21.9 million charge related to an increase in the deferred tax valuation allowance. It's the bottom line that drew attention from two fund managers, not because of the charge, but because they felt more of the increase in revenue should be falling to the bottom line. CEO Shirley Singleton pointed to "a little bit of a hockey stick" in summer revenue with a strong June, weak July and steady improvement from August on. "We've shifted from a cost-cutting mode and fighting to keep ourselves afloat in 2009 to actually a growth mode," she said. While most of the revenue increase came from the Fullscope acquisition, services revenue was up 20.7 percent organically over the prior year.