Concurrent narrows losses, sees bright future
Concurrent’s fiscal Q3 revenue was down, but that was excused as a hiccup in the timing of incoming orders, which the company expects to accelerate in the next half of this calendar year.
Concurrent’s revenue for the third quarter of fiscal year 2010 was approximately $14.6 million, compared with $19.2 million in the prior year's third quarter.
The company got much closer to profitability than it was last year. Concurrent’s net loss in the quarter just ended was $974,000, compared with a net loss of $15.3 million in the same quarter of the prior fiscal year.
“Our revenue for the quarter was down slightly from the prior quarter due to the timing of orders," commented Dan Mondor, Concurrent’s president and CEO. "We reiterate our prior guidance that our revenue for the second half of our fiscal year will exceed our revenue for the first half of the fiscal year. We are seeing traction with our new three-screen offerings as shown by the execution of another multi-year contract with a North American MSO to deliver media data and advertising solutions as a managed service, consistent with the objectives of our long-term strategy.”