Concurrent posts net loss of $739,000 in Q2 2008
Concurrent said that the operating efficiencies it has been putting into place recently have helped it turn in its smallest quarterly operating loss in two years.
The company said it expects to prosper throughout 2008, with the expectation that a healthy market for video-on-demand (VOD) systems will prevail this year, coupled with its efficiency efforts and its product line expansion into storage systems announced yesterday (see story).
The company reported an operating loss of $847,000 in the most recently completed quarter, its fiscal 2008 second quarter. In Q2 2007, Concurrent reported a loss of $1 million. On a sequential basis, the company lost $1.8 million in Q1 2008.
That was operating losses. The net loss for Q2 2008 was $739,000, whereas Concurrent had recorded a net profit of $1.7 million a quarter ago.
Concurrent reported revenue of $17.6 million in Q2, up 3 percent from a year ago, and up 8 percent sequentially.
Gary Trimm, Concurrent’s president and CEO, said: “We believe the VOD market will be strong in 2008 and that our industry-leading MediaHawk 4500 system will continue to capture a significant share of the opportunities.
“In VOD, particularly, we see a trend toward larger projects, similar to our recent wins at Cox in Arizona and Bright House in Tampa and Orlando. This could make quarterly revenues highly variable, but we believe the last half of our fiscal year will be stronger.”
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