Delaware
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0-13150
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04-2735766
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(State or Other
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(Commission
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(IRS Employer
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Jurisdiction
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File Number)
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Identification Number)
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of Incorporation)
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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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Press release of Concurrent Computer Corporation, issued on April 30, 2013.
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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 April 30, 2013.
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·
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Concurrent’s MediaHawk VX™ Unified Content Delivery Solution was selected by Virgin Media in support of their multi-screen Virgin TV Anywhere service. Virgin Media is the largest quad-play provider of broadband Internet, television, mobile and fixed line telephony services in the United Kingdom
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·
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A top 5 North American cable operator launched Concurrent's content delivery solution nationwide to dramatically expand its video-on-demand content library
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·
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Independent analyst firm Current Analysis once again named Concurrent the leader for on demand video servers
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·
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Concurrent’s Real-Time business delivered visual servers to KCEI in Korea for the K-Series Tank Platoon Simulation program and iHawk systems to a major contactor for a U.S. Army program
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Three Months Ended March 31,
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Nine Months Ended March 31,
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|||||||||||||||
2013
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2012
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2013
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2012
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Revenues:
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||||||||||||||||
Product
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$ | 10,714 | $ | 9,996 | $ | 29,777 | $ | 26,814 | ||||||||
Service
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6,213 | 6,295 | 18,743 | 18,775 | ||||||||||||
Total revenues
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16,927 | 16,291 | 48,520 | 45,589 | ||||||||||||
Cost of sales:
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||||||||||||||||
Product
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4,591 | 3,329 | 12,439 | 10,668 | ||||||||||||
Service
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2,336 | 2,950 | 7,726 | 8,630 | ||||||||||||
Total cost of sales
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6,927 | 6,279 | 20,165 | 19,298 | ||||||||||||
Gross margin
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10,000 | 10,012 | 28,355 | 26,291 | ||||||||||||
Operating expenses:
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||||||||||||||||
Sales and marketing
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3,527 | 3,993 | 10,808 | 12,591 | ||||||||||||
Research and development
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2,878 | 3,446 | 8,673 | 10,372 | ||||||||||||
General and administrative
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2,362 | 1,841 | 6,352 | 5,561 | ||||||||||||
Total operating expenses
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8,767 | 9,280 | 25,833 | 28,524 | ||||||||||||
Operating income (loss)
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1,233 | 732 | 2,522 | (2,233 | ) | |||||||||||
Other expense, net
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(229 | ) | (264 | ) | (407 | ) | (431 | ) | ||||||||
Income (loss) before income taxes
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1,004 | 468 | 2,115 | (2,664 | ) | |||||||||||
Income tax provision
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67 | 131 | 180 | 432 | ||||||||||||
Net income (loss)
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$ | 937 | $ | 337 | $ | 1,935 | $ | (3,096 | ) | |||||||
Basic net income (loss) per share
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$ | 0.11 | $ | 0.04 | $ | 0.22 | $ | (0.36 | ) | |||||||
Diluted net income (loss) per share
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$ | 0.11 | $ | 0.04 | $ | 0.22 | $ | (0.36 | ) | |||||||
Basic weighted average shares outstanding
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8,754 | 8,644 | 8,726 | 8,584 | ||||||||||||
Diluted weighted average shares outstanding
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8,894 | 8,751 | 8,873 | 8,584 | ||||||||||||
Cash dividends declared per common share
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$ | 0.06 | $ | - | $ | 0.74 | $ | - |
Three Months Ended
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March 31,
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December 31,
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|||||||
2013
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2012
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Revenues:
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Product
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$ | 10,714 | $ | 10,099 | ||||
Service
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6,213 | 6,490 | ||||||
Total revenues
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16,927 | 16,589 | ||||||
Cost of sales:
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||||||||
Product
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4,591 | 4,295 | ||||||
Service
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2,336 | 2,751 | ||||||
Total cost of sales
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6,927 | 7,046 | ||||||
Gross margin
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10,000 | 9,543 | ||||||
Operating expenses:
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||||||||
Sales and marketing
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3,527 | 3,643 | ||||||
Research and development
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2,878 | 2,948 | ||||||
General and administrative
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2,362 | 2,076 | ||||||
Total operating expenses
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8,767 | 8,667 | ||||||
Operating income
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1,233 | 876 | ||||||
Other expense, net
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(229 | ) | (197 | ) | ||||
Income before income taxes
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1,004 | 679 | ||||||
Provision for income taxes
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67 | 6 | ||||||
Net income
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$ | 937 | $ | 673 | ||||
Basic net income per share
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$ | 0.11 | $ | 0.08 | ||||
Diluted net income per share
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$ | 0.11 | $ | 0.08 | ||||
Basic weighted average shares outstanding
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8,754 | 8,741 | ||||||
Diluted weighted average shares outstanding
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8,894 | 8,851 | ||||||
Cash dividends declared per common share
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$ | 0.06 | $ | 0.56 |
Three Months Ended
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Nine Months Ended March 31,
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|||||||||||||||||||
March 31,
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December 31,
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March 31,
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||||||||||||||||||
2013
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2012
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2012
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2013
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2012
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Net income (loss)
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$ | 937 | $ | 673 | $ | 337 | $ | 1,935 | $ | (3,096 | ) | |||||||||
Other comprehensive income (loss):
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||||||||||||||||||||
Foreign currency translation adjustment
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(24 | ) | (172 | ) | (22 | ) | (242 | ) | 207 | |||||||||||
Pension and post-retirement benefits, net of tax
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2 | 2 | - | 6 | 2 | |||||||||||||||
Other comprehensive income (loss)
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(22 | ) | (170 | ) | (22 | ) | (236 | ) | 209 | |||||||||||
Comprehensive income (loss)
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$ | 915 | $ | 503 | $ | 315 | $ | 1,699 | $ | (2,887 | ) |
March 31,
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December 31,
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June 30,
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||||||||||
2013
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2012
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2012
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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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$ | 22,370 | $ | 24,591 | $ | 29,613 | ||||||
Trade accounts receivable, net
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16,862 | 10,129 | 8,739 | |||||||||
Inventories
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2,949 | 2,460 | 3,683 | |||||||||
Prepaid expenses and other current assets
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1,559 | 1,672 | 2,129 | |||||||||
Total current assets
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43,740 | 38,852 | 44,164 | |||||||||
Property, plant and equipment, net
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3,114 | 3,318 | 3,966 | |||||||||
Intangible assets, net
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994 | 1,218 | 1,667 | |||||||||
Other long-term assets
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845 | 935 | 1,076 | |||||||||
Total assets
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$ | 48,693 | $ | 44,323 | $ | 50,873 | ||||||
LIABILITIES
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Accounts payable and accrued expenses
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$ | 7,376 | $ | 6,209 | $ | 5,931 | ||||||
Dividend payable
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74 | 76 | - | |||||||||
Deferred revenue
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10,575 | 7,849 | 8,850 | |||||||||
Total current liabilities
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18,025 | 14,134 | 14,781 | |||||||||
Non-current deferred revenue
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1,607 | 1,605 | 2,788 | |||||||||
Non-current dividend payable
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259 | 254 | - | |||||||||
Revolving bank line of credit, non-current
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- | - | - | |||||||||
Other non-current liabilities
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4,215 | 4,354 | 4,198 | |||||||||
Total liabilities
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24,106 | 20,347 | 21,767 | |||||||||
STOCKHOLDERS' EQUITY
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Common stock
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88 | 88 | 87 | |||||||||
Additional paid-in capital
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208,422 | 208,198 | 207,830 | |||||||||
Accumulated deficit
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(184,291 | ) | (184,700 | ) | (179,415 | ) | ||||||
Treasury stock, at cost
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(255 | ) | (255 | ) | (255 | ) | ||||||
Accumulated other comprehensive income
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623 | 645 | 859 | |||||||||
Total stockholders' equity
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24,587 | 23,976 | 29,106 | |||||||||
Total liabilities and stockholders' equity
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$ | 48,693 | $ | 44,323 | $ | 50,873 |