Concurrent Computer's Shares Drop
Shares of Concurrent Computer (CCUR) were down 25% in premarket trading after the company said first-quarter earnings came in a penny below analysts' expectations.
Shares were down 78 cents at $2.25, according to Instinet.
The company earned $620,000, or a penny a share, compared with a loss of $3 million, or 5 cents a share, a year ago. Analysts were expecting the company to earn 2 cents a share.
Revenue was $22.1 million, up from last year's $14.1 million. Video-on-demand revenue increased 281% to $13.4 million, the company said. Revenue from the company's real-time division fell 17%, however, to $8.8 million, from $10.6 million a year earlier.For the second quarter, Concurrent expects video-on-demand revenue to be between $7 million and $8 million, and revenue from its real-time division to be between $9 million and $9.5 million. The company expects a net loss of between 4 cents and 5 cents a share; analysts expect the company to earn 3 cents a share. Atlanta-based Concurrent is a computer systems and software provider.
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