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, 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.

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