Delaware
|
0-13150
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04-2735766
|
(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
|
|
30096
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(Address of Principal Executive Offices)
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(Zip Code)
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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 2.02. | Results of Operations and Financial Condition. |
ITEM 9.01. | Financial Statements and Exhibits. |
(c) | Exhibits |
Exhibit No.
|
Description
|
|
|
99.1
|
Press release of Concurrent Computer Corporation, issued on January 28, 2014.
|
|
By:
|
/s/ Emory O. Berry
|
|
|
|
Emory O. Berry
|
|
|
|
Chief Financial Officer and Executive Vice President of Operations
|
Press Release of Concurrent Computer Corporation, issued on January 28, 2014.
|
· | Concurrent launched a new cloud-enabled unified origin server solution that allows multi-channel video service providers to stream premium content hosted on cloud storage services such as Amazon S3™ |
· | Concurrent’s MediaHawk VX™ CDN Assisted Video On-Demand solution was awarded 4 diamonds from Broadband Technology Report’s (BTR) Diamond Technology Reviews |
· | The company released a new intelligent request router that enables service providers to efficiently deliver multi-screen video content to consumers across a geographically distributed IP network |
· | Independent research firm, Current Analysis, again ranked Concurrent’s MediaHawk VX as the leader in their latest On-Demand Video Server Product Assessment |
· | A new thought-leadership webinar series was announced that will explore the state, trends, and future of multi-screen video delivery and monetization technologies |
· | Concurrent continued to gain traction in the automotive simulation and testing market with the shipment of SIMulation WorkbenchTM solutions to several leading automotive companies and Formula 1 racing teams |
· | The company shipped iHawkTM solutions to a major locomotive supplier to run hardware-in-the-loop models for locomotive engine control units |
· | Concurrent delivered iHawk solutions to United Launch Alliance and Orbital Sciences Corporation for their space programs |
- | To view Financial Results visit our Investors page here. |
|
Three Months Ended December 31,
|
Six Months Ended December 31,
|
||||||||||||||
|
2013
|
2012
|
2013
|
2012
|
||||||||||||
Revenues:
|
||||||||||||||||
Product
|
$
|
11,008
|
$
|
10,099
|
$
|
22,454
|
$
|
19,063
|
||||||||
Service
|
6,829
|
6,490
|
12,581
|
12,530
|
||||||||||||
Total revenues
|
17,837
|
16,589
|
35,035
|
31,593
|
||||||||||||
Cost of sales:
|
||||||||||||||||
Product
|
5,222
|
4,295
|
10,206
|
7,848
|
||||||||||||
Service
|
2,659
|
2,751
|
5,371
|
5,390
|
||||||||||||
Total cost of sales
|
7,881
|
7,046
|
15,577
|
13,238
|
||||||||||||
Gross margin
|
9,956
|
9,543
|
19,458
|
18,355
|
||||||||||||
Operating expenses:
|
||||||||||||||||
Sales and marketing
|
3,513
|
3,643
|
6,995
|
7,281
|
||||||||||||
Research and development
|
3,416
|
2,948
|
6,589
|
5,795
|
||||||||||||
General and administrative
|
1,894
|
2,076
|
3,941
|
3,990
|
||||||||||||
Total operating expenses
|
8,823
|
8,667
|
17,525
|
17,066
|
||||||||||||
Operating income
|
1,133
|
876
|
1,933
|
1,289
|
||||||||||||
Other expense, net
|
(63
|
)
|
(197
|
)
|
(90
|
)
|
(178
|
)
|
||||||||
Income before income taxes
|
1,070
|
679
|
1,843
|
1,111
|
||||||||||||
Income tax (benefit) provision
|
(19
|
)
|
6
|
20
|
113
|
|||||||||||
Net income
|
$
|
1,089
|
$
|
673
|
$
|
1,823
|
$
|
998
|
||||||||
|
||||||||||||||||
Basic net income per share
|
$
|
0.12
|
$
|
0.08
|
$
|
0.21
|
$
|
0.11
|
||||||||
Diluted net income per share
|
$
|
0.12
|
$
|
0.08
|
$
|
0.20
|
$
|
0.11
|
||||||||
Basic weighted average shares outstanding
|
8,934
|
8,741
|
8,874
|
8,712
|
||||||||||||
Diluted weighted average shares outstanding
|
9,040
|
8,851
|
9,060
|
8,852
|
||||||||||||
Cash dividends declared per common share
|
$
|
0.12
|
$
|
0.56
|
$
|
0.24
|
$
|
0.68
|
|
Three Months Ended
|
|||||||
|
December 31,
|
September 30,
|
||||||
|
2013
|
2013
|
||||||
Revenues:
|
||||||||
Product
|
$
|
11,008
|
$
|
11,446
|
||||
Service
|
6,829
|
5,752
|
||||||
Total revenues
|
17,837
|
17,198
|
||||||
Cost of sales:
|
||||||||
Product
|
5,222
|
4,984
|
||||||
Service
|
2,659
|
2,712
|
||||||
Total cost of sales
|
7,881
|
7,696
|
||||||
Gross margin
|
9,956
|
9,502
|
||||||
Operating expenses:
|
||||||||
Sales and marketing
|
3,513
|
3,482
|
||||||
Research and development
|
3,416
|
3,173
|
||||||
General and administrative
|
1,894
|
2,047
|
||||||
Total operating expenses
|
8,823
|
8,702
|
||||||
Operating income
|
1,133
|
800
|
||||||
Other expense, net
|
(63
|
)
|
(27
|
)
|
||||
Income before income taxes
|
1,070
|
773
|
||||||
(Benefit) provision for income taxes
|
(19
|
)
|
39
|
|||||
Net income
|
$
|
1,089
|
$
|
734
|
||||
|
||||||||
Basic net income per share
|
$
|
0.12
|
$
|
0.08
|
||||
Diluted net income per share
|
$
|
0.12
|
$
|
0.08
|
||||
Basic weighted average shares outstanding
|
8,934
|
8,813
|
||||||
Diluted weighted average shares outstanding
|
9,040
|
9,049
|
||||||
Cash dividends declared per common share
|
$
|
0.12
|
$
|
0.12
|
|
Three Months Ended
|
Six Months Ended
|
||||||||||||||||||
|
Dec. 31,
|
Sept. 30,
|
Dec. 31,
|
Dec. 31,
|
Dec. 31,
|
|||||||||||||||
|
2013
|
2013
|
2012
|
2013
|
2012
|
|||||||||||||||
|
||||||||||||||||||||
Net income
|
$
|
1,089
|
$
|
734
|
$
|
673
|
$
|
1,823
|
$
|
998
|
||||||||||
|
||||||||||||||||||||
Other comprehensive income (loss):
|
||||||||||||||||||||
Foreign currency translation adjustment
|
(92
|
)
|
(53
|
)
|
(172
|
)
|
(145
|
)
|
(218
|
)
|
||||||||||
Pension and post-retirement benefits, net of tax
|
5
|
5
|
2
|
10
|
4
|
|||||||||||||||
Other comprehensive income (loss)
|
(87
|
)
|
(48
|
)
|
(170
|
)
|
(135
|
)
|
(214
|
)
|
||||||||||
Comprehensive income
|
$
|
1,002
|
$
|
686
|
$
|
503
|
$
|
1,688
|
$
|
784
|
|
December 31,
|
September 30,
|
June 30,
|
|||||||||
|
2013
|
2013
|
2013
|
|||||||||
|
(unaudited)
|
(unaudited)
|
||||||||||
|
||||||||||||
ASSETS
|
||||||||||||
Cash and cash equivalents
|
$
|
25,096
|
$
|
25,533
|
$
|
27,927
|
||||||
Trade accounts receivable, net
|
11,745
|
9,645
|
10,701
|
|||||||||
Inventories
|
3,856
|
3,009
|
2,844
|
|||||||||
Prepaid expenses and other current assets
|
1,408
|
1,560
|
2,324
|
|||||||||
Total current assets
|
42,105
|
39,747
|
43,796
|
|||||||||
|
||||||||||||
Property, plant and equipment, net
|
2,921
|
3,178
|
3,102
|
|||||||||
Intangible assets, net
|
552
|
617
|
834
|
|||||||||
Other long-term assets
|
889
|
911
|
737
|
|||||||||
Total assets
|
$
|
46,467
|
$
|
44,453
|
$
|
48,469
|
||||||
|
||||||||||||
LIABILITIES
|
||||||||||||
Accounts payable and accrued expenses
|
$
|
7,990
|
$
|
5,019
|
$
|
7,671
|
||||||
Deferred revenue
|
6,303
|
7,515
|
8,383
|
|||||||||
Total current liabilities
|
14,293
|
12,534
|
16,054
|
|||||||||
|
||||||||||||
Long-term deferred revenue
|
1,462
|
1,529
|
1,924
|
|||||||||
Other long-term liabilities
|
4,906
|
4,713
|
4,706
|
|||||||||
Total liabilities
|
20,661
|
18,776
|
22,684
|
|||||||||
|
||||||||||||
STOCKHOLDERS' EQUITY
|
||||||||||||
Common stock
|
90
|
89
|
88
|
|||||||||
Additional paid-in capital
|
209,211
|
208,975
|
208,677
|
|||||||||
Accumulated deficit
|
(183,465
|
)
|
(183,444
|
)
|
(183,085
|
)
|
||||||
Treasury stock, at cost
|
(255
|
)
|
(255
|
)
|
(255
|
)
|
||||||
Accumulated other comprehensive income
|
225
|
312
|
360
|
|||||||||
Total stockholders' equity
|
25,806
|
25,677
|
25,785
|
|||||||||
Total liabilities and stockholders' equity
|
$
|
46,467
|
$
|
44,453
|
$
|
48,469
|
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