Concurrent Computer Corp. up on improved Q4 results
Concurrent Computer Corp. (Nasdaq: CCUR), provider of computer and software systems for video-on-demand, reported fourth-quarter results above analyst estimates.
Sales were $21.1 million, which beat Wall Street estimates of $19 million. The Duluth, Ga.-based company recorded a net loss of $0.7 million, or $0.01 per share, which was better than analysts’ estimates of a loss of $0.02 per share. In the fourth quarter of 2006, the company had a net loss of $3.1 million, or $0.04 a share.
“I am very pleased with our fourth quarter results,” CEO Gary Trimm said. “We shored-up our balance sheet with total assets now over $74.1 million and we had very strong sales growth. Our real-time business improved significantly in the quarter, including over $1 million in sales of real-time operating system software.”
Concurrent’s consolidated gross margins for the fourth quarter of fiscal 2007 were 48% compared to 49% in the third quarter of fiscal 2007. The gross margins decreased primarily due to additional severance charges recorded to service cost sales.
In pre-market trading, shares are up 3.7%, or $0.05, at $1.40.
