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Concurrent’s Q4 much stronger than its fiscal year 2007

Fri, 08/17/2007 - 8:45am
Traci Patterson

Concurrent cut its loss and showed strong revenue growth in the fourth quarter, ended June 30, but the company’s revenues decreased and its loss increased overall in fiscal year 2007.

In Q4, Concurrent reported company-wide revenue of $21.1 million, up 33 percent year-on-year from $15.9 million, and up 31 percent sequentially. The company’s on-demand product line brought in $14 million, an increase of 35 percent sequentially, “fueled, in large part, by the success of the new MediaHawk 4500 system,” said Gary Trimm, Concurrent’s president and CEO. The real-time product line totaled $7.1 million, an increase of 23 percent sequentially.

The company’s net loss in Q4 was $712,000, a decrease of 84 percent compared with $4.5 million in the year-ago quarter, and a decrease of 77 percent compared with $3.1 million in Q3.

“The net loss of $712,000 includes a charge for $750,000 in severance pay; over $1.2 million of depreciation and amortization expense; and $240,000 of share-based compensation expense,” Trimm said. “Considering these factors, we believe we've built a strong foundation for fiscal year 2008, and I am encouraged by our opportunities.”

Compared with fiscal year 2006, Concurrent’s fiscal year 2007 saw a decrease in overall revenue and an increase in net loss. Revenue totaled $69.1 million, a decrease of 3 percent compared with $71.6 million in fiscal year 2006. Concurrent’s real-time product line totaled $25.9 million in fiscal year 2007, down 24 percent from $34 million in 2006.

The on-demand product line brought in $43.2 million, though, an increase of 15 percent compared with $37.6 million in the prior year.

For fiscal year 2007, the company reported a net loss of $12.2 million, compared with $9.3 million in fiscal year 2006, an increase of 24 percent.

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