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 October 30, 2012.
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By:
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/s/ Emory O. Berry
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Emory O. Berry
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Chief Financial Officer and Executive Vice President of Operations
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Press Release of Concurrent Computer Corporation, issued on October 30, 2012.
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·
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Demonstrated a joint offering with Alcatel-Lucent’s Velocix CDN technology that enables service providers to cost-effectively expand their video content catalogs by hundreds of thousands of hours by accessing regional or national archives;
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·
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Combined digital rights management (DRM) technology from AuthenTec with Concurrent’s eFactor solution enabling customers to utilize Microsoft’s market-leading PlayReady DRM to stream to Android and Apple iOS devices; and
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·
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Extended its Media Data Intelligence software to monitor and analyze on-line and mobile video consumption to provide operators with data on subscriber viewing for traditional television services and TV Everywhere offerings.
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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 September 30,
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||||||||
2012
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2011
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|||||||
Revenues:
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||||||||
Product
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$ | 8,964 | $ | 6,784 | ||||
Service
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6,040 | 6,104 | ||||||
Total revenues
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15,004 | 12,888 | ||||||
Cost of sales:
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||||||||
Product
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3,553 | 2,770 | ||||||
Service
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2,639 | 2,837 | ||||||
Total cost of sales
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6,192 | 5,607 | ||||||
Gross margin
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8,812 | 7,281 | ||||||
Operating expenses:
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||||||||
Sales and marketing
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3,638 | 4,302 | ||||||
Research and development
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2,847 | 3,580 | ||||||
General and administrative
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1,914 | 1,903 | ||||||
Total operating expenses
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8,399 | 9,785 | ||||||
Operating income (loss)
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413 | (2,504 | ) | |||||
Other income, net
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19 | 13 | ||||||
Income (loss) before income taxes
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432 | (2,491 | ) | |||||
Income tax provision
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107 | 109 | ||||||
Net income (loss)
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$ | 325 | $ | (2,600 | ) | |||
Other comprehensive income (loss):
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||||||||
Foreign currency translation adjustment
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(47 | ) | 108 | |||||
Pension and post-retirement benefits, net of tax
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2 | - | ||||||
Other comprehensive income (loss)
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(45 | ) | 108 | |||||
Comprehensive income (loss)
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$ | 280 | $ | (2,492 | ) | |||
Basic net income (loss) per share
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$ | 0.04 | $ | (0.31 | ) | |||
Diluted net income (loss) per share
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$ | 0.04 | $ | (0.31 | ) | |||
Basic weighted average shares outstanding
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8,683 | 8,488 | ||||||
Diluted weighted average shares outstanding
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8,801 | 8,488 | ||||||
Cash dividends declared per common share
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$ | 0.12 | $ | - |
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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||||||||
September 30,
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June 30,
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|||||||
2012
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2012
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|||||||
Revenues:
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||||||||
Product
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$ | 8,964 | $ | 8,167 | ||||
Service
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6,040 | 6,541 | ||||||
Total revenues
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15,004 | 14,708 | ||||||
Cost of sales:
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||||||||
Product
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3,553 | 3,038 | ||||||
Service
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2,639 | 3,224 | ||||||
Total cost of sales
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6,192 | 6,262 | ||||||
Gross margin
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8,812 | 8,446 | ||||||
Operating expenses:
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||||||||
Sales and marketing
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3,638 | 3,666 | ||||||
Research and development
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2,847 | 2,781 | ||||||
General and administrative
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1,914 | 1,812 | ||||||
Total operating expenses
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8,399 | 8,259 | ||||||
Operating income
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413 | 187 | ||||||
Other income, net
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19 | 241 | ||||||
Income before income taxes
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432 | 428 | ||||||
Provision for income taxes
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107 | 219 | ||||||
Net income
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$ | 325 | $ | 209 | ||||
Other comprehensive income (loss):
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||||||||
Foreign currency translation adjustment
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(47 | ) | 172 | |||||
Pension and post-retirement benefits, net of tax
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2 | (583 | ) | |||||
Other comprehensive income (loss)
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(45 | ) | (411 | ) | ||||
Comprehensive income (loss)
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$ | 280 | $ | (202 | ) | |||
Basic net income per share
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$ | 0.04 | $ | 0.02 | ||||
Diluted net income per share
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$ | 0.04 | $ | 0.02 | ||||
Basic weighted average shares outstanding
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8,683 | 8,658 | ||||||
Diluted weighted average shares outstanding
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8,801 | 8,776 | ||||||
Cash dividends declared per common share
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$ | 0.12 | $ | - |
Concurrent Computer Corporation
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||||||||
Condensed Consolidated Balance Sheets
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||||||||
(In Thousands)
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||||||||
September 30,
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June 30,
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|||||||
2012
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2012
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|||||||
(unaudited)
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||||||||
ASSETS
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||||||||
Cash and cash equivalents
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$ | 28,940 | $ | 29,613 | ||||
Trade accounts receivable, net
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9,517 | 8,739 | ||||||
Inventories
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2,772 | 3,683 | ||||||
Prepaid expenses and other current assets
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2,199 | 2,129 | ||||||
Total current assets
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43,428 | 44,164 | ||||||
Property, plant and equipment, net
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3,647 | 3,966 | ||||||
Intangible assets, net
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1,442 | 1,667 | ||||||
Other long-term assets
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1,040 | 1,076 | ||||||
Total assets
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$ | 49,557 | $ | 50,873 | ||||
LIABILITIES
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||||||||
Accounts payable and accrued expenses
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$ | 5,508 | $ | 5,931 | ||||
Deferred revenue
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9,018 | 8,850 | ||||||
Total current liabilities
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14,526 | 14,781 | ||||||
Long-term deferred revenue
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2,162 | 2,788 | ||||||
Revolving bank line of credit, non-current
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- | - | ||||||
Other long-term liabilities
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4,357 | 4,198 | ||||||
Total liabilities
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21,045 | 21,767 | ||||||
STOCKHOLDERS' EQUITY
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||||||||
Common stock
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87 | 87 | ||||||
Additional paid-in capital
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207,998 | 207,830 | ||||||
Accumulated deficit
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(180,132 | ) | (179,415 | ) | ||||
Treasury stock, at cost
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(255 | ) | (255 | ) | ||||
Accumulated other comprehensive income
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814 | 859 | ||||||
Total stockholders' equity
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28,512 | 29,106 | ||||||
Total liabilities and stockholders' equity
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$ | 49,557 | $ | 50,873 |