Concurrent’s 1Q Nos. Fall Short10/22/2004 5:25 AM Eastern
Concurrent Computer Corp. reported consolidated revenue for its fiscal first quarter ended Sept. 30 of $17.3 million, down from $18.9 million in the year-ago period.
Video-on-demand revenue slipped 17.7% to $8.5 million from $10.4 million in the prior-year quarter.
The vendor posted a first-quarter net loss of $5 million, or $0.08 per fully diluted share, including severance costs of $700,000, versus net income of $600,000 ($0.01) in the first quarter of the previous fiscal year.
“North American VOD fell short of our expectations,” Concurrent CEO Gary Trimm said in a prepared statement. “Orders for five new market deployments were once again delayed. However, we do expect that these orders will be received and revenue will be recognized in our second quarter.”