NEW YORK ( TheStreet) -- Concurrent Computer (CCUR) shares took a big hit on light volume late Monday after the Atlanta-based video delivery technology company swung back to a quarterly loss because of weak margins and a sequential decline in revenue.
After the closing bell, the company posted a loss of $1.2 million, or 14 cents a share, for its fiscal first quarter ended on Sept. 30 with revenue totaling $15.5 million. The performance was down on a sequential basis from its profit of $886,000, or 11 cents a share, on revenue of $18.1 million for its fourth quarter ended in June. The expectation of the single analyst covering the company was for earnings of 3 cents a share in the September period.
The stock was last quoted at $4.95, down 28.3%, according to Nasdaq.com, on slight afterhours volume of less than 8,000; although the issue's trailing three-month daily average churn is around 30,000. Based on a regular session close at $6.90, the shares were up almost 60% year-to-date, including a nearly 9% rally on Monday ahead of the report. The thinly traded stock hit a new 52-week high of $7.31 during Monday's session, so the market reaction to any disappointment in the numbers is likely to be dramatic.
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