Here's our initial take on 's (NYSE: DAVA) financial report.

We are now 18 months removed from British IT consulting firm Endava seeing its shares lose half their value following a disappointing earnings report, and the recovery still looks like a long-term project.

Endava beat watered-down earnings-per-share expectations in its fiscal fourth quarter, which ended June 30, but revenue declined 4% year over year. Other key metrics show no sign of growth on the horizon. Endava's headcount fell by 5% from a year ago. Headcount is a useful measure with consulting firms because they adjust hiring based on anticipated future workload.

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Source Fool.com