-----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, M8he7RUY0UDA5oPlNyKMDsm7hLATemBM5kR5mqI6pLHqphmHc0IRJQP+9idlf/8/ qmWwzzedWgP+gl8EBrQ4jA== 0001015402-02-002982.txt : 20020823 0001015402-02-002982.hdr.sgml : 20020823 20020823135631 ACCESSION NUMBER: 0001015402-02-002982 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020823 ITEM INFORMATION: Other events FILED AS OF DATE: 20020823 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: 02746788 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): August 23, 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 June 30, 2002 (unaudited) and June 30, 2001, (2) the condensed consolidated statements of operations for the years ended June 30, 2002 (unaudited) and June 30, 2001, and (3) the unaudited segment data for the years ended June 30, 2002 and 2001.
CONCURRENT COMPUTER CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) JUNE 30, JUNE 30, 2002 2001 ----------- ---------- (Unaudited) ASSETS Cash and cash equivalents $ 30,519 $ 9,460 Trade accounts receivable, net 23,894 14,348 Inventories 6,822 7,187 Prepaid expenses and other current assets 1,879 1,058 ----------- ---------- Total current assets 63,114 32,053 Property, plant and equipment, net 10,696 10,484 Purchased developed computer software, net 1,393 1,583 Goodwill, net 10,744 10,744 Investment in minority owned companies 7,814 - Note receivable from minority owned company 3,000 - Other long-term assets, net 1,927 2,188 ----------- ---------- Total assets $ 98,688 $ 57,052 =========== ========== LIABILITIES Accounts payable and accrued expenses $ 15,514 $ 13,929 Deferred revenue 4,055 3,300 ----------- ---------- Total current liabilities 19,569 17,229 Long-term deferred revenue 1,677 1,193 Other long-term liabilities 8,218 5,347 STOCKHOLDERS' EQUITY Common stock 618 551 Additional Paid-in Capital 172,929 140,352 Treasury stock (58) (58) Retained earnings (deficit) (98,377) (102,760) Accumulated other comprehensive loss (5,888) (4,802) ----------- ---------- Total stockholders' equity 69,224 33,283 ----------- ---------- Total liabilities and stockholders' equity $ 98,688 $ 57,052 =========== ==========
CONCURRENT COMPUTER CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS EXCEPT PER SHARE DATA) THREE MONTHS ENDED JUNE 30, TWELVE MONTHS ENDED JUNE 30, ------------------------------ ------------------------------ 2002 2001 2002 2001 (Unaudited) (Unaudited) (Unaudited) -------------- -------------- ------------- --------------- Revenues: Product sales Real-time systems $ 5,756 $ 8,263 $ 21,601 $ 25,740 Video-on-demand systems 17,447 6,196 47,961 23,814 -------------- -------------- ------------- --------------- Total product sales 23,203 14,459 69,562 49,554 Service and other 4,555 5,436 19,807 23,267 -------------- -------------- ------------- --------------- Total 27,758 19,895 89,369 72,821 Cost of sales: Real-time and video-on-demand systems 9,556 8,248 33,215 27,193 Service and other 2,937 3,090 11,588 12,608 -------------- -------------- ------------- --------------- Total 12,493 11,338 44,803 39,801 -------------- -------------- ------------- --------------- Gross margin 15,265 8,557 44,566 33,020 Operating expenses: Sales and marketing 4,458 3,914 16,984 16,112 Research and development 4,314 3,205 15,291 11,579 General and administrative 2,173 2,127 8,612 10,920 -------------- -------------- ------------- --------------- Total operating expenses 10,945 9,246 40,887 38,611 -------------- -------------- ------------- --------------- Operating income (loss) 4,320 (689) 3,679 (5,591) Other income (loss) 263 31 704 2 -------------- -------------- ------------- --------------- Income (loss) before income taxes 4,583 (658) 4,383 (5,589) Provision for income taxes (450) 150 0 600 -------------- -------------- ------------- --------------- Net income (loss) $ 5,033 $ (808) $ 4,383 $ (6,189) ============== ============== ============= =============== Basic net income (loss) per share $ 0.08 $ (0.01) $ 0.07 $ (0.11) ============== ============== ============= =============== Diluted net income (loss) per share $ 0.08 $ (0.01) $ 0.07 $ (0.11) ============== ============== ============= =============== Basic weighted average shares outstanding 61,856 55,058 60,997 54,683 ============== ============== ============= =============== Diluted weighted average shares outstanding 63,654 55,058 64,088 54,683 ============== ============== ============= ===============
Note: If the provisions of SFAS 142 were applied to the quarter ending June 30, 2001, basic and diluted net loss per share would have been $.01. If the provisions of SFAS 142 were applied to the twelve months ending June 30, 2001, basic and diluted net loss per share would have been $.09.
CONCURRENT COMPUTER CORPORATION SEGMENT DATA (IN THOUSANDS) REAL-TIME DIVISION XSTREME DIVISION -------------------------- ------------------------ THREE MONTHS ENDED THREE MONTHS ENDED -------------------------- ------------------------ 06/30/02 06/30/01 06/30/02 06/30/01 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------ ------------ ------------ ---------- Revenues: Product Sales $ 5,756 $ 8,263 $ 17,447 $ 6,196 Service and other 4,555 5,436 - - ------------ ------------ ------------ ---------- Total 10,311 13,699 17,447 6,196 Cost of sales: Systems 1,904 4,818 7,652 3,430 Service and other 2,937 3,090 - - ------------ ------------ ------------ ---------- Total 4,841 7,908 7,652 3,430 ------------ ------------ ------------ ---------- Gross margin 5,470 5,791 9,795 2,766 Operating expenses Sales and marketing 1,854 1,878 2,604 2,036 Research and development 1,496 940 2,818 2,265 General and administrative 827 966 1,346 1,161 ------------ ------------ ------------ ---------- Total operating expenses 4,177 3,784 6,768 5,462 ------------ ------------ ------------ ---------- Operating income (loss) $ 1,293 $ 2,007 $ 3,027 $ (2,696) ============ ============ ============ ==========
CONCURRENT COMPUTER CORPORATION SEGMENT DATA (IN THOUSANDS) REAL-TIME DIVISION XSTREME DIVISION -------------------------- ------------------------ TWELVE MONTHS ENDED TWELVE MONTHS ENDED -------------------------- ------------------------ 06/30/02 06/30/01 06/30/02 06/30/01 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------ ------------ ------------ ---------- Revenues: Product Sales $ 21,601 $ 25,740 $ 47,961 $ 23,814 Service and other 19,807 23,267 - - ------------ ------------ ------------ ---------- Total 41,408 49,007 47,961 23,814 Cost of sales: Systems 8,586 14,102 24,629 13,091 Service and other 11,588 12,608 - - ------------ ------------ ------------ ---------- Total 20,174 26,710 24,629 13,091 ------------ ------------ ------------ ---------- Gross margin 21,234 22,297 23,332 10,723 Operating expenses Sales and marketing 7,023 7,688 9,961 8,424 Research and development 5,409 3,493 9,882 8,086 General and administrative 3,889 4,569 4,723 6,351 ------------ ------------ ------------ ---------- Total operating expenses 16,321 15,750 24,566 22,861 ------------ ------------ ------------ ---------- Operating income (loss) $ 4,913 $ 6,547 $ (1,234) $ (12,138) ============ ============ ============ ==========
-2- 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: August 23, 2002. CONCURRENT COMPUTER CORPORATION By: /s/ Steven R. Norton ---------------------------- Steven R. Norton Executive Vice President, Chief Financial Officer and Secretary -3- -----END PRIVACY-ENHANCED MESSAGE-----