Concurrent Computer Corporation announces profit for third quarter fiscal year 1996.OCEANPORT, N.J.--(BUSINESS WIRE)--May 1, 1996--Concurrent Computer Corporation (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 ) announced its third quarter financial results for fiscal year 1996. For the third quarter ended March 31, 1996, Concurrent reported net income of $0.5 million, compared with a loss of $5.0 million in the same quarter last year (that included a $2.7 million restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. and a $1.0 million provision for write down of the value of the Company's Tinton Falls, NJ property, held for disposition and recently sold). Earnings per share for the quarter were $0.02, compared with a net loss per share of $0.17 a year ago. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for this year's third quarter were $26.2 million compared with second quarter sales of $24.5 million and last year's third quarter sales of $30.3 million. For the nine months ended March 31, 1996, Concurrent reported a net loss of $5.7 million, or $0.19 per share compared with a net loss of $2.3 million, or $0.08 per share for the comparable period in the prior year. Net sales for the nine month period were $77.1 million, compared with net sales of $109.6 million in the prior year period. John Stihl, chairman, president and chief executive officer, commented, "We are pleased with our operating results, especially when we consider the many distractions resulting from our planned acquisition of Harris Computer Systems Corporation's 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. business. Our customers continue to express support for the transaction. In particular, they look forward to the benefits of combining the best of our respective real-time technologies in our next generation products. We are focused on completing the acquisition in the current 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 . is a leading supplier of high performance, real-time computer systems. Applications for Concurrent computers include: simulation, measurement and control, C4I C4I Command, Control, Communications, Computers, & Intelligence (US DoD) C4I Command Control Communications Computer and Intelligence (command, control, communications, computers, and intelligence), wagering wa·ger n. 1. a. An agreement under which each bettor pledges a certain amount to the other depending on the outcome of an unsettled matter. b. A matter bet on; a gamble. 2. and gaming, and multimedia. The company provides sales and support worldwide 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. , Europe, and Asia, as well as through authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: distributors. The company headquarters are in Oceanport, New Jersey Oceanport is a Borough in Monmouth County, New Jersey, United States. As of the United States 2000 Census, the borough population was 5,807. Oceanport was formed as a borough by an Act of the New Jersey Legislature on April 6, 1920, from portions of Eatontown Township (now , USA.For additional information contact: Ron Baker Ronald Baker (born November 19, 1954 in Gary, Indiana) was a former American football offensive lineman between 1978 and 1988 for the Baltimore Colts and the Philadelphia Eagles of the NFL. He played college football at Oklahoma State University. or Maryann Saggese, email: bakerr@ocpt.ccur.com 908-870-5888 -0-
Concurrent Computer Corporation
Consolidated Statements of Operations
(Dollars in thousands, except per share amounts)
Three Months Ended Nine Months Ended
March 31, March 31,
1996 1995 1996 1995
Net Sales:
Computer systems $13,831 $13,597 $34,998 $57,872
Service and other 12,342 16,747 42,110 51,766
Total 26,173 30,344 77,108 109,638
Cost of sales:
Computer systems 7,690 8,523 20,129 30,420
Service and other 7,593 10,437 24,297 31,771
Total 15,283 18,960 44,426 62,191
Gross margin 10,890 11,384 32,682 47,447 Operating expenses: Research and development 2,809 4,707 9,863 15,455 Selling, general, & administrative 6,666 8,665 21,937 28,949 Provision for restructuring - 2,700 1,300 2,700 Sales and use tax credit - - - (1,000) Total operating expenses 9,475 16,072 33,100 46,104 Operating income (loss) 1,415 (4,688) (418) 1,343 Interest expense (531) (737) (1,851) (2,109) Interest income 12 101 193 412 Other non-recurring charge - (1,000) (1,700) (1,000) Other income (expense) net 37 339 (480) 483 Income (loss) before provision for income taxes 933 (5,985) (4,256) (871) Provision for income taxes 400 (1,000) 1,400 1,400 Net income (loss) $533 ($4,985) ($5,656) ($2,271) Net income (loss) per share $0.02 ($0.17) ($0.19) ($0.08) CONTACT: Concurrent Computer Corp., Oceanport, N.J. Ron Baker or Maryann Saggese, 908/870-5888 email: bakerr@ocpt.ccur.com |
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