Concurrent Computer Q4 net income increases
Aug 30, 2013 (MarketLine via COMTEX) --
Concurrent Computer Corporation, a provider of software, hardware and professional services for the video market, the media industry, has reported that net income for the fourth quarter ended June 30, 2013 was $2.31 million, or $0.26 per share, compared to $209,000, or $0.02 per share, for the same quarter ended June 30, 2012.
Total revenues for the fourth quarter ended June 30, 2013 were $14.92 million, compared to $14.71 million, for the same quarter ended June 30, 2012.
Net income for the year ended June 30, 2013 was $4.25 million, or $0.48 per diluted share, compared to a net loss of $2.89 million, or $0.34 loss per diluted share, for the year ended June 30, 2012.
Total revenues for the year ended June 30, 2013 were $63.44 million, compared to $60.30 million, for the year ended June 30, 2012.
Dan Mondor, the company's president and CEO said: "I am pleased to announce our sixth consecutive quarter and first full year of profitability in recent history. We are encouraged by the overall progress we made in the business in fiscal 2013 underpinned by the continued market acceptance of our video and real-time solutions. We achieved a number of new design wins and saw an improvement in spending levels from some of our top customers resulting in a 5% year over year increase in revenue. We closed out the full year with a gain in net income of more than $7 million versus the prior year. Fiscal year 2013 represented a notable improvement in the financial performance of the company."
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