0001140361-11-020506.txt : 20110404 0001140361-11-020506.hdr.sgml : 20110404 20110404162729 ACCESSION NUMBER: 0001140361-11-020506 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110404 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110404 DATE AS OF CHANGE: 20110404 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: 11736183 BUSINESS ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY STREET 2: SUITE 100 CITY: DULUTH STATE: GA ZIP: 30097 BUSINESS PHONE: 6782584000 MAIL ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY STREET 2: SUITE 100 CITY: DULUTH STATE: GA ZIP: 30097 FORMER COMPANY: FORMER CONFORMED NAME: MASSACHUSETTS COMPUTER CORP DATE OF NAME CHANGE: 19881018 8-K 1 form8k.htm CONCURRENT COMPUTER CORP 8-K 4-4-2011 form8k.htm


UNITED STATES
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 4, 2011
 
Concurrent Computer Corporation
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
 
0-13150
 
04-2735766
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification Number)
 
4375 River Green Parkway, Suite 100, Duluth, Georgia
 
30096
(Address of Principal Executive Offices)
 
(Zip Code)
 
Registrant’s telephone number, including area code:  (678) 258-4000
 
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 
 

 
 
ITEM 7.01 Regulation FD Disclosure
 
On April 4, 2011, we sent a letter to Skellig Capital Management, LLC (“Skellig”) to respond to a letter that the Board of Directors received from Skellig on February 22, 2011.  The full text of the letter is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
 
The information in this Item 7.01 and Exhibit 99.1 of Item 9.01 is being furnished pursuant to Regulation FD and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section.  In addition, the information in this Item 7.01 and Exhibit 99.1 of Item 9.01 shall not be incorporated by reference into the filings of Concurrent Computer under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
 
ITEM 9.01 Financial Statements and Exhibits.
 
(d) Exhibits
 
The following Exhibit is furnished as part of this report:
 
Exhibit No.   Description
     
99.1   Letter to Skellig Capital Management, LLC dated April 4, 2011
 
 
-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:  April 4, 2011
 
CONCURRENT COMPUTER CORPORATION
(Registrant)
 
 
By:
/s/ Emory O. Berry
 
   
Emory O. Berry
 
   
Chief Financial Officer and Executive Vice President of Operations
 
 
 
-3-

 

EXHIBIT INDEX
 
Exhibit Number and Description
 
Letter to Skellig Capital Management, LLC dated April 4, 2011
 
 
-4-

EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm

EXHIBIT 99.1
 
 
April 4, 2011
 
Messrs. Robert M. Neal and Jay Albany
Skellig Capital Management LLC
117 East 55th Street
New York, NY 10022
 
Dear Rob and Jay:
 
This is in response to your letter dated February 22, 2011 concerning your views that Concurrent should use a portion of its cash to implement a stock buyback program as a means to enhance shareholder value.  Please know that the Board of Directors and management team share precisely the same ultimate goal.
 
We appreciate the input of all of our stockholders, including your analysis and input regarding a stock buyback program.  Thank you also for acknowledging the company’s many accomplishments on executing its business plan, bringing innovative and exciting new products to market ahead of competitors and winning new customers.  Over the last two years, we have continued to implement our strategy and diligently managed the business to expand opportunities and served markets while building a strong balance sheet.  With a solid cash position, Concurrent is in the position of being able to invest in and roll-out successful new products and services that we believe will enable the company to meet our mutual objective of increased shareholder value.
 
The Board regularly reviews the company’s strategic alternatives, and in that context has carefully considered the implementation of a stock buyback program.  As part of our review of this issue, we have evaluated the information shared in your letters as well as your discussions with me and members of the management team.  I made the Board aware of our telephone conversation last month and our CEO and EVP of Corporate Affairs have also communicated your views to the Board.
 
After careful consideration, we have determined that the most prudent course of action for the company at this time is to preserve its cash so we may continue to execute on our strategic plan.  As you noted in your letter, we have begun to gain traction in expanding our markets and customer opportunities as well as transitioning our MDAS business.  While we are pleased with this momentum, our transition is not yet complete; reinforcing our position that it is in the best interests of the company and its shareholders to have cash available for the purpose of executing on our strategic initiatives, which we believe will result in long-term value creation for the company and its shareholders.  That said, the company previously engaged in a buyback program and we may do so again if the circumstances warrant.
 
We look forward to continuing to work with you in the future and appreciate your interest and investment in the company.
 
Sincerely,
 
/s/ Steve G. Nussrallah
Steve G. Nussrallah,
Chairman
 
cc:   Dan Mondor, Chief Executive Officer
 
 

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