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Concurrent Reports Fiscal 2011 Second Quarter Financial Results

ATLANTA Feb. 1, 2011 December 31, 2010

http://photos.prnewswire.com/prnh/20081216/CLTU015LOGO

$17.9 million $15.0 million

Gross margin for the second quarter of fiscal 2011 was 53%, compared with 62% last year, reflecting the mix of product and services revenue, the higher costs related to a customized product introduction and increased service costs associated with scaling the company’s MDAS service platform.  

$10.0 million $9.1 million

$1.2 million $0.14 $89,000 $0.01

Dan Mondor

"Going forward, our outlook is improving and we currently are expecting revenue for the second half of the year will be stronger than the first half," continued Mondor.  "Gross margins should also strengthen in the second half of the fiscal year. We continue to increase investments, which will be reflected in our operating expenses, in order to capitalize on strategic market opportunities. This is a dynamic and exciting time for our company, and we are confident of a bright future."  

Concurrent has made continued progress developing applications to diversify its video and MDAS customer base, grow its MDAS managed services business and continue the contribution from existing customers. Recent highlights include:

  • Jiangsu China
  • Latin America
  • Strategic investments to build a scalable managed and hosted services platform with a full suite of census level media data for European and North American customers; and,
  • A new patent for technology that is foundational to network DVR services, facilitating the storage and distribution of content from a centralized, network-based system.

$33.4 million $27.8 million $19.4 million $17.9 million $2.4 million $.29 $926,000 $0.11

$1.3 million December 31, 2010 $32.1 million $29.6 million September 30, 2010 $31.4 million June 30, 2010

Conference Call Information  

Tuesday, February 1 4:30 p.m. ET www.ccur.com www.ccur.com

About Concurrent

Concurrent (NASDAQ: CCUR) is a global leader in innovative solutions that enable the seamless delivery, management and monetization of video on any screen. Built on a solid foundation of video firsts and patented, Emmy® Award winning technology, Concurrent’s screen-independent video delivery and media data solutions create a truly holistic, 360 degree view of the consumer video experience. By harnessing the full potential of video, Concurrent provides customers in the cable, telco, wireless, web, advertising and content development industries with new revenue opportunities such as advanced advertising. Concurrent’s video solutions are built upon a rich heritage of high-performance real-time technology, which also powers solutions for the defense, aerospace, automotive and financial industries.

North America Europe Asia www.ccur.com

Safe Harbor Statement

Certain statements made or incorporated by reference in this release may constitute "forward-looking statements" within the meaning of the federal securities laws.  Statements regarding future events and developments and the company’s future performance, including, but not limited to, continued revenue growth in the second half of fiscal 2011, as well as management’s expectations, beliefs, plans, estimates, or projections relating to the future, are forward-looking statements within the meaning of these laws.  All forward-looking statements are subject to certain risks and uncertainties that could cause actual events to differ materially from those projected.    

The risks and uncertainties which could affect the company’s financial condition or results of operations include, without limitation: delays or cancellations of customer orders; changes in product demand; economic conditions; various inventory risks due to changes in market conditions; uncertainties relating to the development and ownership of intellectual property; uncertainties relating to Concurrent’s ability and the ability of other companies to enforce their intellectual property rights; the pricing and availability of equipment, materials and inventories; the concentration of  customers; failure to effectively manage change; delays in testing and introductions of new products;  rapid technology changes; system errors or failures; reliance on a limited number of suppliers and failure of components provided by those suppliers; uncertainties associated with international business activities, including foreign regulations, trade controls, taxes, and currency fluctuations; the impact of  competition on the pricing of video products; failure to effectively service the installed base; the entry of new well-capitalized competitors into the company’s markets; the success of new video solutions and real-time products; the success of  relationships with technology and channel partners; capital spending patterns by a limited customer base; the current negative macro-economic environment; and privacy concerns over data collection.

August 31, 2010

Concurrent Computer Corporation and its logo are registered trademarks of Concurrent. All other Concurrent product names are trademarks of Concurrent while all other product names are trademarks or registered trademarks of their respective owners.  

Concurrent Computer Corporation

Condensed Consolidated Statements of Operations (Unaudited)

(In Thousands Except Per Share Data)

Three Months Ended December 31,

Six Months Ended December 31,

2010

2009

2010

2009

Revenues:

Product

$ 11,723

$ 8,664

$ 21,074

$ 15,346

Service

6,129

6,338

12,324

12,406

Total revenues

17,852

15,002

33,398

27,752

Cost of sales:

Product

5,302

3,503

9,555

6,393

Service

3,066

2,201

5,854

4,322

Total cost of sales

8,368

5,704

15,409

10,715

Gross margin

9,484

9,298

17,989

17,037

Operating expenses:

Sales and marketing

4,256

3,946

8,306

7,751

Research and development

3,499

3,096

6,857

6,196

General and administrative

2,231

2,084

4,285

4,001

Total operating expenses

9,986

9,126

19,448

17,948

Operating income (loss)

(502)

172

(1,459)

(911)

Other income (expense), net

(46)

(67)

(18)

31

Income (loss) before income taxes

(548)

105

(1,477)

(880)

Income tax provision

641

16

923

46

Net income (loss)

$ (1,189)

$      89

$ (2,400)

$    (926)

Basic net income (loss) per share

$   (0.14)

$   0.01

$   (0.29)

$   (0.11)

Diluted net income (loss) per share

$   (0.14)

$   0.01

$   (0.29)

$   (0.11)

Basic weighted average shares outstanding

8,409

8,325

8,388

8,305

Diluted weighted average shares outstanding

8,409

8,419

8,388

8,305

Concurrent Computer Corporation

Condensed Consolidated Statements of Operations (Unaudited)

(In Thousands Except Per Share Data)

Three Months Ended  

December 31,

September 30,

2010

2010

Revenues:

Product

$             11,723

$                 9,351

Service

6,129

6,195

Total revenues

17,852

15,546

Cost of sales:

Product

5,302

4,253

Service

3,066

2,788

Total cost of sales

8,368

7,041

Gross margin

9,484

8,505

Operating expenses:

Sales and marketing

4,256

4,050

Research and development

3,499

3,358

General and administrative

2,231

2,054

Total operating expenses

9,986

9,462

Operating loss

(502)

(957)

Other income (expense), net

(46)

28

Loss before income taxes

(548)

(929)

Provision for income taxes

641

282

Net loss

$             (1,189)

$               (1,211)

Basic net loss per share

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