Delaware
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0-13150
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04-2735766
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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4375 River Green Parkway, Suite 100, Duluth, Georgia
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30096
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(Address of Principal Executive Offices)
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(Zip Code)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit No.
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Description
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99.1
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Press release of Concurrent Computer Corporation, issued on May 3, 2011.
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By:
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/s/Emory O. Berry | |
Emory O. Berry
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Chief Financial Officer and Executive | |||
Vice President of Operations |
Press Release of Concurrent Computer Corporation, issued on May 3, 2011.
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·
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Selection by Jilin Cable Network, another Top-10 Chinese cable operator, for video delivery software, through Potevio, (one of Concurrent's resellers in China);
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Solid progress in our trial with a North American provider of content delivery services;
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Winning two large customer upgrade orders in North America for the video business; and
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Recognized as a Top 10 Innovative Technology Company by the Technology Association of Georgia.
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For more information, contact: | |
Investor Relations: | Media Relations: |
Kirk Somers, Executive VP of Corporate Affairs | Arketi Group |
(678) 258-4000 | Mike Neumeier, APR |
investor.relations@ccur.com | (404) 929-0091 ext. 210 |
mneumeier@arketi.com
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PondelWilkinson Inc. | |
Rob Whetstone
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(310) 279-5963
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rwhetstone@pondel.com |
Concurrent Computer Corporation
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||||||||||||||||
Condensed Consolidated Statements of Operations (Unaudited)
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||||||||||||||||
(In Thousands Except Per Share Data)
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||||||||||||||||
Three Months Ended March 31,
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Nine Months Ended March 31,
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|||||||||||||||
2011
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2010
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2011
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2010
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|||||||||||||
Revenues:
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||||||||||||||||
Product
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$ | 11,787 | $ | 9,241 | $ | 32,861 | $ | 24,587 | ||||||||
Service
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6,522 | 5,337 | 18,846 | 17,743 | ||||||||||||
Total revenues
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18,309 | 14,578 | 51,707 | 42,330 | ||||||||||||
Cost of sales:
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||||||||||||||||
Product
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4,330 | 4,211 | 13,885 | 10,604 | ||||||||||||
Service
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3,027 | 2,272 | 8,881 | 6,594 | ||||||||||||
Total cost of sales
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7,357 | 6,483 | 22,766 | 17,198 | ||||||||||||
Gross margin
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10,952 | 8,095 | 28,941 | 25,132 | ||||||||||||
Operating expenses:
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||||||||||||||||
Sales and marketing
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4,410 | 3,786 | 12,716 | 11,537 | ||||||||||||
Research and development
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3,819 | 3,267 | 10,676 | 9,463 | ||||||||||||
General and administrative
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2,165 | 1,993 | 6,450 | 5,994 | ||||||||||||
Total operating expenses
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10,394 | 9,046 | 29,842 | 26,994 | ||||||||||||
Operating income (loss)
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558 | (951 | ) | (901 | ) | (1,862 | ) | |||||||||
Other income (expense), net
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79 | (133 | ) | 61 | (102 | ) | ||||||||||
Income (loss) before income taxes
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637 | (1,084 | ) | (840 | ) | (1,964 | ) | |||||||||
Income tax provision (benefit)
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139 | (110 | ) | 1,062 | (64 | ) | ||||||||||
Net income (loss)
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$ | 498 | $ | (974 | ) | $ | (1,902 | ) | $ | (1,900 | ) | |||||
Basic net income (loss) per share
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$ | 0.06 | $ | (0.12 | ) | $ | (0.23 | ) | $ | (0.23 | ) | |||||
Diluted net income (loss) per share
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$ | 0.06 | $ | (0.12 | ) | $ | (0.23 | ) | $ | (0.23 | ) | |||||
Basic weighted average shares outstanding
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8,423 | 8,344 | 8,400 | 8,318 | ||||||||||||
Diluted weighted average shares outstanding
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8,603 | 8,344 | 8,400 | 8,318 |
Concurrent Computer Corporation
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Condensed Consolidated Statements of Operations (Unaudited)
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||||||||
(In Thousands Except Per Share Data)
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||||||||
Three Months Ended
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||||||||
March 31,
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December 31,
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|||||||
2011
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2010
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|||||||
Revenues:
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||||||||
Product
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$ | 11,787 | $ | 11,723 | ||||
Service
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6,522 | 6,129 | ||||||
Total revenues
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18,309 | 17,852 | ||||||
Cost of sales:
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||||||||
Product
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4,330 | 5,302 | ||||||
Service
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3,027 | 3,066 | ||||||
Total cost of sales
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7,357 | 8,368 | ||||||
Gross margin
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10,952 | 9,484 | ||||||
Operating expenses:
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||||||||
Sales and marketing
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4,410 | 4,256 | ||||||
Research and development
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3,819 | 3,499 | ||||||
General and administrative
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2,165 | 2,231 | ||||||
Total operating expenses
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10,394 | 9,986 | ||||||
Operating income (loss)
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558 | (502 | ) | |||||
Other expense, net
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79 | (46 | ) | |||||
Income (loss) before income taxes
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637 | (548 | ) | |||||
Provision for income taxes
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139 | 641 | ||||||
Net income (loss)
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$ | 498 | $ | (1,189 | ) | |||
Basic net income (loss) per share
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$ | 0.06 | $ | (0.14 | ) | |||
Diluted net income (loss) per share
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$ | 0.06 | $ | (0.14 | ) | |||
Basic weighted average shares outstanding
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8,423 | 8,409 | ||||||
Diluted weighted average shares outstanding
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8,603 | 8,409 |
Concurrent Computer Corporation
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Condensed Consolidated Balance Sheets
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||||||||||||
(In Thousands)
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||||||||||||
March 31,
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December 31,
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June 30,
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||||||||||
2011
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2010
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2010
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(unaudited)
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(unaudited)
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ASSETS
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Cash and cash equivalents
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$ | 25,928 | $ | 32,113 | $ | 31,364 | ||||||
Short-term investments
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3,414 | - | - | |||||||||
Trade accounts receivable, net
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15,591 | 8,467 | 14,194 | |||||||||
Inventories
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3,622 | 4,250 | 4,300 | |||||||||
Prepaid expenses and other current assets
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1,394 | 1,344 | 1,704 | |||||||||
Total current assets
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49,949 | 46,174 | 51,562 | |||||||||
Property, plant and equipment, net
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4,649 | 4,863 | 5,050 | |||||||||
Intangible assets, net
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2,789 | 3,013 | 3,463 | |||||||||
Other long-term assets
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1,765 | 1,824 | 2,014 | |||||||||
Total assets
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$ | 59,152 | $ | 55,874 | $ | 62,089 | ||||||
LIABILITIES
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Accounts payable and accrued expenses
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$ | 9,930 | $ | 10,521 | $ | 9,985 | ||||||
Deferred revenue
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9,074 | 5,854 | 11,094 | |||||||||
Total current liabilities
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19,004 | 16,375 | 21,079 | |||||||||
Long-term deferred revenue
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4,068 | 4,257 | 4,349 | |||||||||
Revolving bank line of credit, non-current
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- | - | - | |||||||||
Other long-term liabilities
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3,669 | 3,503 | 3,180 | |||||||||
Total liabilities
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26,741 | 24,135 | 28,608 | |||||||||
STOCKHOLDERS' EQUITY
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Common stock
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84 | 84 | 84 | |||||||||
Additional paid-in capital
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206,780 | 206,403 | 205,891 | |||||||||
Accumulated deficit
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(175,175 | ) | (175,673 | ) | (173,273 | ) | ||||||
Treasury stock, at cost
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(255 | ) | (255 | ) | (255 | ) | ||||||
Accumulated other comprehensive income
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977 | 1,180 | 1,034 | |||||||||
Total stockholders' equity
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32,411 | 31,739 | 33,481 | |||||||||
Total liabilities and stockholders' equity
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$ | 59,152 | $ | 55,874 | $ | 62,089 |