Concurrent Reports Fiscal Year 2013 Second Quarter Financial Results

     Concurrent Reports Fiscal Year 2013 Second Quarter Financial Results

PR Newswire

ATLANTA, Jan. 29, 2013

ATLANTA, Jan. 29, 2013 /PRNewswire/ --Concurrent (NASDAQ: CCUR), a global
leader in video, media data intelligence and real-time Linux^® solutions,
today announced financial results for its second quarter fiscal 2013 ended
December 31, 2012.

(Logo: http://photos.prnewswire.com/prnh/20110317/CL67141LOGO )

Revenue for the fiscal 2013 second quarter was $16.6 million compared with
$16.4 million for the same period in fiscal 2012, and $15.0 million in the
preceding quarter.

Gross margin for the fiscal 2013 second quarter was 57.5% compared with 54.8%
for the same period in fiscal 2012, and 58.7% in the preceding quarter,
primarily reflecting the mix of customers. Operating expenses were $8.7
million, compared with $9.5 million for the same period in fiscal 2012, and
$8.4 million in the preceding quarter.

The company reported net income of $673 thousand, or $0.08 per diluted share,
in the second quarter of fiscal 2013, compared with a loss of $833 thousand,
or $0.10 per diluted share, in the same period in fiscal 2012, and net income
of $325 thousand, or $0.04 per diluted share, in the preceding quarter.

"I am pleased with the operating results in the second quarter, which marked
our fourth consecutive quarter of profitability," said Dan Mondor, the
company's president and CEO. "Continued focus on improving our operating model
through cost reduction and process improvements allowed us to generate
increased value for our shareholders."

The company paid three quarterly dividends of $0.06 each and a $0.50 special
dividend in the first half of the fiscal year. At December 31, 2012,
Concurrent had cash and cash equivalents of $24.6 million. The company has no
debt.

Recent Company Highlights

  oExpanded support for Smart TVs on our MediaHawk VX™ unified CDN solution.
    With this software solution, operators can reach new customers on
    Internet-connected TVs and eliminate the need for traditional set-top box
    terminals.
  oLaunched new Multi-screen Video Assurance Services, designed to help
    operators proactively identify issues and trends that could affect their
    quality of service.
  oSelected by General Electric and Mitsubishi Heavy Industries to power
    mission critical design testing applications using Concurrent's real time
    solutions.
  oLaunched a new website (www.ccur.com) designed to better highlight
    Concurrent's products and value proposition for the markets we serve.

Conference Call Information

Concurrent will hold a conference call to discuss its fiscal 2013 second
quarter financial results today, Tuesday, January 29th, at 4:30 p.m. ET,
followed by a question and answer session with analysts. The call will be
broadcast live at www.ccur.com, under the "Investors" section. The call can
be accessed live by dialing 1-800-230-1093 (U.S.) 612-288-0337 (international)
and entering pass code 130129. A webcast of the live call as well as a replay
will also be available at www.ccur.com.

To view Financial Results click here.

About Concurrent
Concurrent (NASDAQ: CCUR) is a global leader in video, media data intelligence
and real-time Linux^® solutions. Concurrent provides customers with
transformative solutions to fuel their business beyond what was thought
possible. Concurrent's unified video delivery and media data intelligence
solutions support every screen simultaneously, making it easier for cable
MSOs, fixed-line telecommunications providers, mobile operators, online media
companies and satellite TV broadcasters to deliver revenue generating video
services to consumers on any device, over any network. The world's leading
telecommunication and online media companies have selected Concurrent to
provide the solutions and services required to support their next-generation
multi-screen video initiatives. Concurrent's Emmy award-winning video
solutions are based upon a rich heritage of high-performance real-time
technology. Concurrent's real-time Linux solutions are used to support
applications in the defense, aerospace, automotive and financial industries.
Concurrent has offices in North America, Europe and Asia. Visit www.ccur.com
for further information and follow us on Twitter:
www.twitter.com/Concurrent_CCUR.

For more information, contact:

Media Relations:
Concurrent
Kristen Izzo
678-258-4221
kristen.izzo@ccur.com

Horn Group
Nicole Matthews
(646) 202-9773
nicole.matthews@horngroup.com

Investor Relations Contact:
Concurrent
Leah Connell
(678) 258-4108
investor.relations@ccur.com

Certain statements made or incorporated by reference in this release may
constitute "forward-looking statements" within the meaning of the federal
securities laws. Statements regarding future events and developments and the
company's future performance, including, but not limited to, management's
expectations, beliefs, plans, estimates, or projections relating to the
future, are forward-looking statements within the meaning of these laws. All
forward-looking statements are subject to certain risks and uncertainties that
could cause actual events to differ materially from those projected.

The risks and uncertainties which could affect our financial condition or
results of operations include, without limitation: delays or cancellations of
customer orders; changes in product demand; economic conditions; various
inventory risks due to changes in market conditions; margins of video business
to capture new business; fluctuations and timing of large video orders; doing
business in the People's Republic of China; uncertainties relating to the
development and ownership of intellectual property; uncertainties relating to
our ability and the ability of other companies to enforce their intellectual
property rights; the pricing and availability of equipment, materials and
inventories; the concentration of our customers; failure to effectively manage
change; delays in testing and introductions of new products; the impact of
reductions in force on our operations; rapid technology changes; system errors
or failures; reliance on a limited number of suppliers and failure of
components provided by those suppliers; uncertainties associated with
international business activities, including foreign regulations, trade
controls, taxes, and currency fluctuations; the impact of competition on the
pricing of video solutions products; our ability to satisfy the financial
covenants in the Revolver; failure to effectively service the installed base;
the entry of new well-capitalized competitors into our markets; the success of
new video solutions; the success of our relationships with technology and
channel partners; capital spending patterns by a limited customer base; the
current challenging macro-economic environment; continuing unevenness of the
global economic recovery; privacy concerns over data collection; earthquakes,
tsunamis, floods and other natural disasters in areas in which our customers
and suppliers operate; and the availability of debt or equity financing to
support our liquidity needs.

Other important risk factors are discussed in Concurrent's Form 10-K filed
August 28, 2012 with the Securities and Exchange Commission (SEC), and may be
discussed in subsequent filings with the SEC. The risk factors discussed in
the Forms 10-K and subsequent SEC filings under the heading "Risk Factors" are
specifically incorporated by reference in this press release. Forward-looking
statements are based on current expectations and speak only as of the date of
such statements. Concurrent undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of future events,
new information, or otherwise.

Concurrent Computer Corporation and its logo are registered trademarks of
Concurrent. All other Concurrent product names are trademarks of Concurrent
while all other product names are trademarks or registered trademarks of their
respective owners.



           Concurrent Computer Corporation
           Condensed Consolidated Statements of Operations (Unaudited)
           (In Thousands Except Per Share Data)
                             Three Months Ended       Six Months Ended
                             December 31,             December 31,
                             2012         2011         2012        2011
Revenues:
   Product                  $        $        $       $     
                             10,099      10,034       19,063    16,818
   Service                  6,490        6,376        12,530      12,480
           Total revenues    16,589       16,410       31,593      29,298
Cost of sales:
   Product                  4,295        4,569        7,848       7,339
   Service                  2,751        2,843        5,390       5,680
           Total cost of     7,046        7,412        13,238      13,019
           sales
Gross margin                 9,543        8,998        18,355      16,279
Operating expenses:
   Sales and marketing       3,643        4,296        7,281       8,598
   Research and development  2,948        3,346        5,795       6,926
   General and               2,076        1,817        3,990       3,720
   administrative
           Total operating   8,667        9,459        17,066      19,244
           expenses
Operating income (loss)      876          (461)        1,289       (2,965)
Other income, net            (197)        (180)        (178)       (167)
Income (loss) before income  679          (641)        1,111       (3,132)
taxes
Income tax provision         6            192          113         301
Net income (loss)            $       $       $       $     
                               673       (833)        998  (3,433)
Basic net income (loss) per  $       $       $       $     
share                         0.08       (0.10)        0.11   (0.40)
Diluted net income (loss)    $       $       $       $     
per share                     0.08       (0.10)        0.11   (0.40)
Basic weighted average       8,741        8,621        8,712       8,554
shares outstanding
Diluted weighted average     8,851        8,621        8,852       8,554
shares outstanding
Cash dividends declared per  $       $       $       $     
common share                  0.56         -        0.68     -



              Concurrent Computer Corporation
              Condensed Consolidated Statements of Operations (Unaudited)
              (In Thousands Except Per Share Data)
                                          Three Months Ended
                                          December 31,      September 30,
                                          2012                2012
Revenues:
     Product                             $      10,099  $      
                                                              8,964
     Service                             6,490               6,040
              Total revenues              16,589              15,004
Cost of sales:
     Product                             4,295               3,553
     Service                             2,751               2,639
              Total cost of sales         7,046               6,192
Gross margin                              9,543               8,812
Operating expenses:
     Sales and marketing                  3,643               3,638
     Research and development             2,948               2,847
     General and administrative           2,076               1,914
              Total operating expenses    8,667               8,399
Operating income                          876                 413
Other income, net                         (197)               19
Income before income taxes                679                 432
Provision for income taxes                6                   107
Net income                                $            $       
                                          673                325
Basic net income per share                $            $       
                                          0.08                0.04
Diluted net income per share              $            $       
                                          0.08                0.04
Basic weighted average shares             8,741               8,683
outstanding
Diluted weighted average shares           8,851               8,801
outstanding
Cash dividends declared per common share  $            $       
                                          0.56                0.12





    Concurrent Computer Corporation
    Condensed Consolidated Statements of Comprehensive Income (Unaudited)
    (In Thousands Except Per Share Data)
                               Three Months Ended     Six Months Ended
                               December 31,           December 31,
                               2012       2011         2012        2011
Net income (loss)              $      $       $       $     
                                  673   (833)        998  (3,433)
Other comprehensive income
(loss):
    Foreign currency           (172)      117          (218)       229
    translation adjustment
    Pension and
    post-retirement benefits,  2          6            4           2
    net of tax
    Other comprehensive        (170)      123          (214)       231
    income (loss)
     Comprehensive income  $      $       $       $     
    (loss)                        503   (710)        784  (3,202)





 Concurrent Computer Corporation
 Condensed Consolidated Balance Sheets
 (In Thousands)
                                 December 31,  September 30,  June 30,
                                 2012           2012           2012
                                 (unaudited)    (unaudited)
 ASSETS
  Cash and cash equivalents    $         $         $     
                                 24,591         28,940         29,613
  Trade accounts receivable,    10,129         9,517          8,739
  net
  Inventories                  2,460          2,772          3,683
  Prepaid expenses and other    1,672          2,199          2,129
  current assets
   Total current assets      38,852         43,428         44,164
  Property, plant and           3,318          3,647          3,966
  equipment, net
  Intangible assets, net       1,218          1,442          1,667
  Other long-term assets       935            1,040          1,076
 Total assets                  $         $         $     
                                 44,323         49,557         50,873
 LIABILITIES
  Accounts payable and accrued  $        $        $      
  expenses                      6,285          5,508          5,931
  Deferred revenue             7,849          9,018          8,850
   Total current              14,134         14,526         14,781
  liabilities
  Non-current deferred          1,605          2,162          2,788
  revenue
  Other non-current             4,608          4,357          4,198
  liabilities
   Total liabilities        20,347         21,045         21,767
 STOCKHOLDERS' EQUITY
  Common stock                 88             87             87
  Additional paid-in capital   208,198        207,998        207,830
  Accumulated deficit          (184,700)      (180,132)      (179,415)
  Treasury stock, at cost      (255)          (255)          (255)
  Accumulated other             645            814            859
  comprehensive income
   Total stockholders'        23,976         28,512         29,106
  equity
 Total liabilities and          $         $         $     
 stockholders' equity           44,323         49,557         50,873



SOURCE Concurrent

Website: http://www.ccur.com