Concurrent Computer Corporation Announces Third Quarter Results.Business Editors ATLANTA--(BUSINESS WIRE)--April 27, 2000 - Third Quarter VOD See video-on-demand. VoD - video on demand Revenue Increases by 75% over Second Quarter- Concurrent Computer Corporation  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCUR CCUR Center for Crops Utilization Research ) today reported its sixth consecutive quarter of growth in Video-On-Demand The ability to deliver a movie, sports event or other video program to a TV set whenever the customer requests it. Video-on-demand (VOD) typically refers to free and paid programs from the cable TV companies or the telephone companies that offer video over DSL lines. (VOD) revenue from its XSTREME Division. Revenue from the Company's VOD sales grew 75% during the quarter to $3.7 million from $2.1 million in the previous quarter and $1.1 million in the first quarter of fiscal year 2000. The increase is primarily attributable to the growing acceptance and deployment of our MediaHawk(TM) video servers by North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. cable television operators. Total revenue for the third quarter ended March 31, 2000 totaled $17.0 million - an increase of 1% over the second quarter ended December December: see month. 31, 1999. Our gross margin on sales of VOD systems grew to 38% in the third quarter compared to 20% in the second quarter. Our gross margins on system sales System sales is a business term used in the franchising industry. Franchisors provide supplies, marketing and administration services to franchisees in return for a part of the franchisees' revenues. Some franchisors also operate some outlets directly. in our Real-Time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. Division remained stable at 54% and our real-time service margins were 43% in the third quarter compared to 45% in the second quarter. The Company's loss from operations in the third quarter was $1.4 million or $0.03 per share, excluding a $660 thousand severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when charge, compared to a loss of $2.5 million or $0.05 per share in the second quarter, excluding the one time write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of $14 million related to the Vivid acquisition. The net loss per share was $0.04 in the third quarter compared to a loss of $.32 in the second quarter and earnings of $0.01 per share in the third quarter of the prior year. "I am extremely pleased with the progress we are making in the North American cable television market. We have achieved significant accomplishments since we entered the VOD market. I am delighted with our success in Oahu Oahu (ōä`h  ), island (1990 pop. 836,231), 593 sq mi (1,536 sq km), third largest and chief island of Hawaii, part of Honolulu co., between Molokai and Kauai. , Hawaii Hawaii, island, United StatesHawaii, island (1990 pop. 120,217), 4,037 sq mi (10,456 sq km), largest and southernmost island of the state of Hawaii and coextensive with Hawaii co.; known as the Big Island. - the world's largest system-wide commercial launch of VOD to date; the completion of the county-wide server deployment supporting the launch of VOD services by Time Warner Cable This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. in its Tampa, Florida “Tampa” redirects here. For other uses, see Tampa (disambiguation). Tampa is a United States city in Hillsborough County, on the west coast of Florida. It serves as the county seat for Hillsborough County.GR6. Hillsborough County Hillsborough County is the name of two counties in the United States:
For example, data entry validity checking determines whether the data make sense (numbers fall within a range, numeric data the cable television industry's commitment to VOD and Concurrent's position as the front-runner front-run·ner also front·run·ner n. 1. One that is in a leading position in a race or other competition: the front-runner for the presidential nomination. 2. in this exploding market," said Steve Nussrallah, Concurrent's President and Chief Executive Officer. "We have been effective at maximizing our margins in the mature real-time systems Real-time systems Computer systems in which the computer is required to perform its tasks within the time restraints of some process or simultaneously with the system it is assisting. market. Even with the anticipated decline in service revenue, the Real-Time Division continues to maximize profitability and generate significant operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. ," Mr. Nussrallah concluded. Concurrent Computer Corporation (http://www.ccur.com), headquartered in Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. , is a leading provider of high-performance computer systems, software, and servers. Concurrent Computer Corporation's XSTREME Division is a leading supplier in the emerging digital video server marketplace. This market includes the broadband/cable, corporate training, education, hospitality, and in-flight entertainment In-flight entertainment (IFE) refers to the entertainment available to aircraft passengers during a flight. After World War II commercial aviation flights became a daily event in which entertainment was requested by passengers to help the time pass. industries. Concurrent is also a leading provider of high-performance, real-time computer systems, solutions, and software for commercial and government markets. The company's 30-year old real-time business focuses on strategic market areas that include: hardware-in-the-loop and man-in-the-loop simulation; data acquisition; industrial systems; and software and embedded applications An application that permanently resides in an industrial or consumer device. Providing some type of control function and/or user interface, the software is typically stored in a non-volatile memory such as ROM or flash memory. . Concurrent provides sales and support from offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Europe, Asia, and Australia. Certain matters discussed in this news release may be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Concurrent Computer Corporation cautions investors that any forward-looking statements made herein are not guarantees of future performance and that a variety of factors could cause its actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties which could affect Concurrent Computer Corporation's performance or results include, without limitation, changes in product demand; economic conditions; various inventory risks due to changes in market conditions; uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the development and ownership of intellectual property; uncertainties relating to the ability of Concurrent Computer Corporation and other companies to enforce their intellectual property rights; the pricing and availability of equipment, materials and inventories; technological developments; delays in testing of new products; rapid technology changes; the highly competitive environment in which Concurrent Computer Corporation operates; the entry of new well-capitalized competitors into Concurrent Computer Corporation's markets, and other risks and uncertainties.
Concurrent Computer Corporation
Condensed Consolidated Balance Sheets
(In Thousands)
March 31, June 30,
2000 1999
(unaudited)
----------- -----------
ASSETS
Cash and cash equivalents $ 6,093 $ 6,872
Trade accounts receivable, net 17,240 14,879
Inventory 4,764 4,641
Prepaid expenses and other current assets 871 1,053
---------- ----------
Total current assets 28,968 27,445
Property, plant and equipment, net 11,533 10,936
Purchased developed computer software 1,821 -
Goodwill 3,022 -
Other long-term assets 1,764 2,188
---------- ----------
Total Assets $ 47,108 $ 40,569
========== ==========
LIABILITIES
Accounts payable and accrued expenses $ 11,298 $ 8,973
Deferred revenue 3,213 3,778
---------- ----------
Total current liabilities 14,511 12,751
Long-term liabilities 1,674 1,807
STOCKHOLDERS' EQUITY
Common stock 537 485
Additional Paid-in Capital 125,492 98,916
Treasury stock (58) (58)
Retained earnings (deficit) (94,243) (72,856)
Accumulated translation adjustment (805) (476)
---------- ----------
Total stockholders' equity 30,923 26,011
---------- ----------
Total liabilities and stockholders'
equity $ 47,108 $ 40,569
========== ==========
Concurrent Computer Corporation
Condensed Consolidated Statements of Operations
(In Thousands Except Per Share Data)
Three Months Ended Nine Months Ended
March 31, March 31,
----------------------- -----------------------
2000 1999 2000 1999
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
----------- ----------- ----------- -----------
Net Sales:
Product sales
Real-time systems $ 6,367 $ 8,215 $ 20,220 $ 23,779
Video-on-demand systems 3,703 351 6,912 583
---------- ---------- ---------- ----------
Total product sales 10,070 8,566 27,132 24,362
Service and other 6,950 9,110 22,494 29,369
---------- ---------- ---------- ----------
Total 17,020 17,676 49,626 53,731
Cost of sales
Real-time and
video-on-demand systems 5,235 3,403 14,068 10,661
Service and other 3,995 5,016 12,375 15,230
---------- ---------- ---------- ----------
Total 9,230 8,419 26,443 25,891
---------- ---------- ---------- ----------
Gross margin 7,790 9,257 23,183 27,840
Operating expenses:
Sales & marketing 4,728 4,880 14,978 13,846
Research and development 2,685 2,371 7,316 7,620
General and administrative 2,476 1,444 6,232 5,061
Cost of purchased in
process computer
software technology - - 14,000 -
Relocation and restructuring - - 2,367 -
---------- ---------- ---------- ----------
Total operating
expenses 9,889 8,695 44,893 26,527
Operating income (loss) (2,099) 562 (21,710) 1,313
Other income (loss) 34 (216) 773 (392)
---------- ---------- ---------- ----------
Income (loss) before
income taxes (2,065) 346 (20,937) 921
Provision for income taxes 150 52 450 138
---------- ---------- ---------- ----------
Net income (loss) $ (2,215) $ 294 $ (21,387) $ 783
========== ========== ========== ==========
Net income (loss) per share
Basic $ (0.04) $ 0.01 $ (0.42) $ 0.02
========== ========== ========== ==========
Diluted $ (0.04) $ 0.01 $ (0.42) $ 0.02
========== ========== ========== ==========
Weighted Average
Shares Outstanding
- Basic 53,503 48,043 51,335 47,855
========== ========== ========== ==========
Weighted Average
Shares Outstanding
- Diluted 53,503 50,981 51,335 49,186
========== ========== ========== ==========
Concurrent Computer Corporation
Segment Data
(In Thousands)
Real-Time Division Xstreme Division
Three Months Ended Three Months Ended
----------------------- -----------------------
03/31/00 12/31/99 03/31/00 12/31/99
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
----------- ----------- ----------- -----------
Net Sales:
Product Sales $ 6,367 $ 7,336 $ 3,703 $ 2,120
Service and other 6,950 7,466 - -
---------- ---------- ---------- ----------
Total 13,317 14,802 3,703 2,120
Cost of sales
Systems 2,921 3,350 2,314 1,693
Service and other 3,995 4,126 - -
---------- ---------- ---------- ----------
Total 6,916 7,476 2,314 1,693
---------- ---------- ---------- ----------
Gross margin 6,401 7,326 1,389 427
Operating expenses
Sales & marketing 2,768 3,476 1,960 2,247
Research and development 1,094 962 1,591 1,447
General and administrative 1,397 1,194 1,079 933
Cost of purchased in
process computer
software technology - - - 14,000
---------- ---------- ---------- ----------
Total operating expenses 5,259 5,632 4,630 18,627
Operating income (loss) $ 1,142 $ 1,694 $ (3,241) $ (18,200)
========== ========== ========== ==========
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