Concurrent reported Q1 2008 revenue of $16.3 million, which is $1.5 million more than the company brought in a year ago, but down 23 percent from the $21.1 million registered in the quarter immediately prior.
On a sequential basis, orders for both on-demand and real-time products were both down. Concurrent said the variation was largely due to the timing of its largest orders from its customers.
Over the course of the last year, the company’s profit trend was from red to black. A year ago, Concurrent lost $4.8 million; the quarter before last, the loss had been shaved to $712,000. In the recently-completed Q1 ’08, Concurrent logged a profit of $1.7 million. Helping the company swing to a profit were payments of $1.9 million and $1.4 million, from the Vicor settlement and the patent settlement with C-Cor, respectively.
Concurrent President and CEO Gary Trimm said, “We believe our business fundamentals are sound. We have effectively managed costs and expenses, generating improved margins and a lower breakeven point. We also believe our product portfolio and service offerings are ahead of our competition and we are winning the majority of competitive projects.”
He added, “In VOD, we expect a robust market in 2008 as operators address the need for time shifted video, more HD content, and advanced advertising, all driving stream counts and reporting requirements to higher levels. In real-time, we believe we have an improved financial model and the project pipeline is beginning to grow. While our quarter to quarter revenues will likely remain highly variable, we expect the last half of fiscal 2008 to be strong, resulting in improved overall results.”
