Concurrent Takes Down Guidance
Concurrent Computer (CCUR) sharply lowered fourth-quarter earnings and revenue forecasts Thursday, saying several orders for its video-on-demand systems didn't materialize in time.
The Atlanta technology company expects to lose 6 cents to 8 cents a share on revenue of $14 million in the three months to June 30. Analysts were expecting a loss of 5 cents a share on revenue of $19.3 million, according to Thomson First Call.
By segment, Concurrent said, video-on-demand revenue will be about $8 million in the quarter, while integrated solutions revenue will be about $6 million. The company said the VOD shortfall reflects the timing of expected purchase orders for new systems, while the integrated solutions miss reflects domestic government spending delays.
The stock closed Thursday at $1.90, down 8 cents, or 4%.
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