-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JyDLcWpD5u8aA+brUGQyK9eQvAqMbWXBgEAXHlIMz+awzaUZ4iEo73jaFaOO3iH7 EZcIuh57Q8BF/tCgNE88mw== 0001015402-02-001421.txt : 20020425 0001015402-02-001421.hdr.sgml : 20020425 ACCESSION NUMBER: 0001015402-02-001421 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020425 ITEM INFORMATION: Other events FILED AS OF DATE: 20020425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONCURRENT COMPUTER CORP/DE CENTRAL INDEX KEY: 0000749038 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 042735766 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13150 FILM NUMBER: 02621252 BUSINESS ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 BUSINESS PHONE: 6782584000 MAIL ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 FORMER COMPANY: FORMER CONFORMED NAME: MASSACHUSETTS COMPUTER CORP DATE OF NAME CHANGE: 19881018 8-K 1 doc1.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 25, 2002 Concurrent Computer Corporation ------------------------------- (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 0-13150 ------- (Commission File Number) 04-2735766 ---------- (IRS Employer Identification Number) 4375 River Green Parkway, Duluth, Georgia 30096 ----------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (678) 258-4000 Not Applicable -------------- (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS Set forth below for Concurrent Computer Corporation are (1) the condensed consolidated balance sheets as of March 31, 2002 (unaudited) and June 30, 2001, (2) the unaudited condensed consolidated statements of operations for the three and nine months ended March 31, 2002 and the three and nine months ended March 31, 2001, and (3) the unaudited segment data for the three and nine months ended March 31, 2002 and the three and nine months ended March 31, 2001.
CONCURRENT COMPUTER CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) MARCH 31, JUNE 30, 2002 2001 ----------- ---------- (UNAUDITED) ASSETS Cash and cash equivalents $ 22,408 $ 9,460 Trade accounts receivable, net 22,643 14,348 Inventories 8,298 7,187 Prepaid expenses and other current assets 1,222 1,058 ----------- ---------- Total current assets 54,571 32,053 Property, plant and equipment, net 10,461 10,484 Purchased developed computer software, net 1,441 1,583 Goodwill, net 10,744 10,744 Investment in minority owned company 7,000 - Note receivable from minority owned company 3,000 - Other long-term assets, net 2,099 2,188 ----------- ---------- Total assets $ 89,316 $ 57,052 =========== ========== LIABILITIES Accounts payable and accrued expenses $ 14,575 $ 13,929 Deferred revenue 3,565 3,300 ----------- ---------- Total current liabilities 18,140 17,229 Long-term deferred revenue 778 1,193 Other long-term liabilities 5,269 5,347 STOCKHOLDERS' EQUITY Common stock 618 551 Additional Paid-in Capital 172,522 140,352 Treasury stock (58) (58) Retained earnings (deficit) (103,410) (102,760) Accumulated other comprehensive loss (4,543) (4,802) ----------- ---------- Total stockholders' equity 65,129 33,283 ----------- ---------- Total liabilities and stockholders' equity $ 89,316 $ 57,052 =========== ==========
-2-
CONCURRENT COMPUTER CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS EXCEPT PER SHARE DATA) THREE MONTHS ENDED NINE MONTHS ENDED MARCH 31, MARCH 31, -------------------------- -------------------------- 2002 2001 2002 2001 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------ ------------ ------------ ------------ Revenues: Product sales Real-time systems $ 5,647 $ 6,028 $ 15,845 $ 17,477 Video-on-demand systems 14,576 10,349 30,514 17,618 ------------ ------------ ------------ ------------ Total product sales 20,223 16,377 46,359 35,095 Service and other 4,805 5,704 15,252 17,831 ------------ ------------ ------------ ------------ Total 25,028 22,081 61,611 52,926 Cost of sales: Real-time and video-on-demand systems 9,429 8,744 23,659 18,945 Service and other 2,838 3,127 8,651 9,518 ------------ ------------ ------------ ------------ Total 12,267 11,871 32,310 28,463 ------------ ------------ ------------ ------------ Gross margin 12,761 10,210 29,301 24,463 Operating expenses: Sales and marketing 4,198 4,059 12,526 12,198 Research and development 3,861 2,925 10,977 8,374 General and administrative 2,341 2,551 6,439 8,793 ------------ ------------ ------------ ------------ Total operating expenses 10,400 9,535 29,942 29,365 ------------ ------------ ------------ ------------ Operating income (loss) 2,361 675 (641) (4,902) Other income (loss) 93 46 441 (29) ------------ ------------ ------------ ------------ Income (loss) before income taxes 2,454 721 (200) (4,931) Provision for income taxes 150 150 450 450 ------------ ------------ ------------ ------------ Net income (loss) $ 2,304 $ 571 $ (650) $ (5,381) ============ ============ ============ ============ Basic net income (loss) per share $ 0.04 $ 0.01 $ (0.01) $ (0.10) ============ ============ ============ ============ Diluted net income (loss) per share $ 0.04 $ 0.01 $ (0.01) $ (0.10) ============ ============ ============ ============ Basic weighted average shares outstanding 61,560 55,021 60,712 54,558 ============ ============ ============ ============ Diluted weighted average shares outstanding 64,767 57,125 60,712 54,558 ============ ============ ============ ============
Note: If the provisions of SFAS 142 were applied to the quarter ending March 31, 2001, basic and diluted net income per share would have been $.02. If the provisions of SFAS 142 were applied to the nine months ending March 31, 2001, basic and diluted net loss per share would have been $.08. -3-
CONCURRENT COMPUTER CORPORATION SEGMENT DATA (IN THOUSANDS) REAL-TIME DIVISION XSTREME DIVISION -------------------------- ------------------------- THREE MONTHS ENDED THREE MONTHS ENDED -------------------------- ------------------------- 03/31/02 03/31/01 03/31/02 03/31/01 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------ ------------ ------------ ----------- Revenues: Product Sales $ 5,647 $ 6,028 $ 14,576 $ 10,349 Service and other 4,805 5,704 - - ------------ ------------ ------------ ----------- Total 10,452 11,732 14,576 10,349 Cost of sales: Systems 2,054 3,392 7,375 5,352 Service and other 2,838 3,127 - - ------------ ------------ ------------ ----------- Total 4,892 6,519 7,375 5,352 ------------ ------------ ------------ ----------- Gross margin 5,560 5,213 7,201 4,997 Operating expenses Sales and marketing 1,734 1,943 2,464 2,116 Research and development 1,409 880 2,452 2,045 General and administrative 1,196 1,102 1,145 1,449 ------------ ------------ ------------ ----------- Total operating expenses 4,339 3,925 6,061 5,610 ------------ ------------ ------------ ----------- Operating income (loss) $ 1,221 $ 1,288 $ 1,140 $ (613) ============ ============ ============ ===========
-4-
CONCURRENT COMPUTER CORPORATION SEGMENT DATA (IN THOUSANDS) REAL-TIME DIVISION XSTREME DIVISION -------------------------- ------------------------ NINE MONTHS ENDED NINE MONTHS ENDED -------------------------- ------------------------ 03/31/02 03/31/01 03/31/02 03/31/01 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------ ------------ ------------ ---------- Revenues: Product Sales $ 15,845 $ 17,477 $ 30,514 $ 17,618 Service and other 15,252 17,831 - - ------------ ------------ ------------ ---------- Total 31,097 35,308 30,514 17,618 Cost of sales: Systems 6,682 9,284 16,977 9,661 Service and other 8,651 9,518 - - ------------ ------------ ------------ ---------- Total 15,333 18,802 16,977 9,661 ------------ ------------ ------------ ---------- Gross margin 15,764 16,506 13,537 7,957 Operating expenses Sales and marketing 5,169 5,810 7,357 6,388 Research and development 3,913 2,553 7,064 5,821 General and administrative 3,062 3,603 3,377 5,190 ------------ ------------ ------------ ---------- Total operating expenses 12,144 11,966 17,798 17,399 ------------ ------------ ------------ ---------- Operating income (loss) $ 3,620 $ 4,540 $ (4,261) $ (9,442) ============ ============ ============ ==========
-5- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 25, 2002. CONCURRENT COMPUTER CORPORATION By: /s/ Steven R. Norton ----------------------------- Steven R. Norton Executive Vice President, Chief Financial Officer and Secretary -6- -----END PRIVACY-ENHANCED MESSAGE-----