plummeted Wednesday after the company said its second-quarter loss would be wider than previously expected because of a delay in orders from a major domestic cable operator.
The shares were down $3.81, or 48%, to $4.13 in recent
The computer systems, servers and software company now expects to post a loss of 7 cents to 8 cents a share, wider than its previous estimate of a loss of 4 cents a share. Both figures include a charge of 2 cents for severance. Eight analysts polled by
First Call/Thomson Financial
are calling for the company to lose 3 cents a share for the quarter. The company lost 5 cents in the year-ago period.
Concurrent, which is based in Atlanta, also expects revenue to total $13.8 million to $14.2 million, lower than its previous estimate of $18 million to $18.9 million for the period.
The company said video-on-demand revenue from its Xstreme division would tally only a fraction of its initial projections, and total $1.7 million to $1.9 million. The original estimate was $7 million to $7.5 million.