Concurrent Computer Corp. posted slumping results for its fiscal first quarter.
The video-on-demand vendor reported revenue of $16.2 million, down 24.6% from $21.5 million in the fourth quarter of its fiscal-year 2005 and down 6.5% from $17.3 million in the year-ago quarter.
Revenue from the company’s on-demand product line was $7.3 million, down 37.3% from the previous-quarter figure of $11.7 million and down 14.3% from $8.5 million in the first quarter of its fiscal-year 2005.
Concurrent’s net loss was $2.2 million, or $0.03 per fully diluted share, versus $1.1 million ($0.02) in the fourth quarter of fiscal-year 2005 and $5 million ($0.08) in the year-earlier period.
“We knew this would be a down quarter for us due to cutbacks in end-of-year spending by some cable MSOs and delays on some projects in our real-time business," CEO Gary Trimm said in a prepared statement.
“We were able to return our operating expenses to planned level in the quarter through tight controls and strong management,” he added. “While we believe our customers are pleased with our products and performance, it appears that we are in the midst of a low capital-spending cycle with some of our major cable customers as they prepare for calendar 2006.”