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. "Margins
in the latest quarter were impacted by costs associated with the ramp-up of MDAS Media Data and Advertising Solutions managed services solutions and introduction of a new video product in the quarter, as well as a cyclical change in the mix of products and services," said Dan Mondor, the company's president and CEO, in a statement. Concurrent didn't provide a specific financial outlook in its statement but CEO Mondor said the company expects near-term results to "continue to be restrained by cautious customer spending patterns, as well as by ongoing investments we are making in the transformation of the company." Moving higher in extended trades was Ironwood Pharmaceuticals ( IRWD), which was quoted up 12.6% at $11.90 on volume of a little less than 13,000. The company and partner Forest Laboratories ( FRX) reported positive top-line clinical results of a second phase III trial of linaclotide, a proposed treatment for patients with irritable bowel syndrome with constipation. A Forest Labs executive said in the press release announcing the positive results that the company expects to file new drug applications related to linaclotide for indications of treating both chronic constipation and irritable bowel syndrome with constipation in 2011.
Ironwood shares had lost 5.5% in the regular session to close at $10.57. At that level, the volatile stock is down more than 25% from its late April 52-week high of $15.03, but up around 15% from a low for the year of $8.90 set on August 25. Cognex Corp. ( CGNX) looks likely to see a swarm of buyers on Tuesday after the Natick, Mass.-based developer of machine vision technology for manufacturing applications trounced Wall Street expectations for its third-quarter results and boosted its quarterly dividend by 33% to 6 cents a share from 8 cents. After the close, Cognex reported earnings of $18.1 million, or 45 cents a share, on revenue of $75 million for the three months ended Sept. 30. That performance more than tripled its year-ago profit of $4.5 million, or 11 cents a share, on revenue of $41.2 million, and was well ahead of the average estimate of analysts polled by Thomson Reuters for earnings of 33 cents a share. Cognex said it saw "unusually robust demand" from the factory automation market, and that order levels remained solid in October. The company sees revenue of $83 million to $85 million in the fourth quarter ending in December, almost 10% better than the current average analysts' estimate of $75.5 million. Cognex shares were last quoted at $28.64, up 7.2%, in extended trades on volume of a little less than 20,000. Year-to-date, the stock has already appreciated 50%, and the afterhours quote would top its current 52-week high of $27.99. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org