Concurrent (NASDAQ:CCUR), a global leader in storage,
protection, transformation, and delivery of visual media assets,
today announced financial results for its fourth quarter and fiscal
year ended June 30, 2017.
“During fiscal 2017, we transformed Concurrent into a focused
leader in video media storage and delivery creating a solid
foundation for growth,” said Derek Elder, President and CEO.
“According to a recent industry report, by 2020 video will account
for 79% of all global internet traffic, creating a need for a
solution to manage the delivery and storage demands created by this
explosion of video traffic on the Internet. With our Content
Delivery and Aquari™ storage solutions, we are uniquely positioned
to capitalize on this large and growing market opportunity.
“We are successfully executing on our growth initiatives and
have made significant progress with new technology and channel
partnerships, expanded customer relationships and new customer
design wins. As we move into the new fiscal year, our
continued top priority is to maintain a solid foundation for
steady, profitable growth. For fiscal 2018, we expect to generate
full year revenue growth of at least 10% year over year.
Additionally, we expect to generate breakeven to positive Adjusted
EBITDA for the year. We have a significantly strengthened balance
sheet, and our Board of Directors continues to evaluate strategies
to maximize shareholder returns,” concluded Mr. Elder.
Financial Results
With the sale of Concurrent’s Real-Time business during the
fourth quarter of fiscal 2017, the company now reports results from
continuing operations, which excludes financial results from the
Real-Time business. Financial results from the company’s former
Real-Time business are reported within discontinued operations. The
following financial results for the current and prior periods are
from Concurrent’s continuing operations.
Fiscal Fourth Quarter Financial Results:
Total revenue for the fourth quarter was $7.8 million, compared
to $7.4 million in the third quarter of fiscal 2017 and $8.8
million in the fourth quarter of fiscal 2016.
Total gross margin as a percentage of revenue was 56.2%,
compared to 54.6% in the third quarter of fiscal 2017 and 65.2% for
the fourth quarter of fiscal 2016.
Loss from continuing operations was $(1.0) million, or $(0.10)
per share, compared to loss from continuing operations of $(3.2)
million, or $(0.34) per share, in the third quarter of fiscal 2017
and a loss from continuing operations of $(9.5) million, or $(1.03)
per share, in the fourth quarter of fiscal 2016.
Adjusted EBITDA loss from continuing operations was $(0.9)
million, which included $1.0 million in severance expenses in
connection with reducing our operating expenses subsequent to the
sale of the Real-Time business, compared to an Adjusted EBITDA loss
from continuing operations of $(2.9) million in the third quarter
of fiscal 2017, which included $1.1 million in transaction-related
expenses and $0.4 million of severance expenses, and an Adjusted
EBITDA loss from continuing operations of $(0.7) million in the
fourth quarter of fiscal 2016. See "Non-GAAP Financial
Measurements" below for more information on the calculation of
Adjusted EBITDA from continuing operations, including a
reconciliation of Adjusted EBITDA to loss from continuing
operations.
Business Highlights:
- Added nine new Aquari customers in fiscal 2017, for a total of
18 at fiscal year end.
- Three Aquari customers expanded usage in fiscal 2017.
- Added seven new Content Delivery customers in fiscal 2017, for
a total of 27 at fiscal year end.
- Nine Content Delivery customers expanded usage during fiscal
2017.
- Signed multiple new strategic partnership agreements during the
fiscal year, bringing the company’s total number of channel
partners to 19. These new partnerships include:-- An OEM
agreement with Hewlett Packard Enterprise (HPE), that expands
Concurrent’s reach with telecommunications customer that prefer HPE
hardware-- Technology alliances with Moonwalk Universal and
Endavo Media that expand Concurrent’s reach into new use cases of
video archiving and over-the-top (OTT) video platform offerings
respectively-- Channel partnership with Rincon Technology
that increases the sales breadth of Concurrent offerings to
Rincon’s 1000+ customers.
Fiscal 2017 Financial Results
Total revenue for fiscal 2017 was $27.6 million, compared to
$32.0 million in fiscal 2016.
Gross margin was 55.0%, compared to 58.7% in fiscal 2016.
Loss from continuing operations was $(11.1) million, or $(1.20)
loss per diluted share, compared to a loss from continuing
operations of $(12.7) million, or $(1.39) loss per diluted share,
in fiscal 2016.
Adjusted EBITDA loss from continuing operations was ($10.0)
million, which included $1.6 million in severance expenses,
compared to an Adjusted EBITDA loss from continuing operations of
($7.2) million in fiscal 2016, which included $0.2 million of
severance expenses. See “Non-GAAP Financial Measurements” below for
more information on the calculation of Adjusted EBITDA loss from
continuing operations, including a reconciliation of Adjusted
EBITDA loss from continuing operations to loss from continuing
operations, which we believe to be the most directly comparable
financial measure presented in accordance with GAAP.
Cash, cash equivalents and short-term investments were $42.8
million and working capital was $45.2 million as of June 30, 2017.
The company continued to pay quarterly dividends of $0.12 per share
in each of the four quarters of fiscal 2017. The company has no
debt.
Non-GAAP Financial Measurements
To supplement the company's condensed consolidated financial
statements prepared in accordance with U.S. generally accepted
accounting principles ("GAAP"), this news release provides
information concerning the company's Adjusted EBITDA, a non-GAAP
financial measure. Reconciliations of Adjusted EBITDA to loss from
continuing operations, the most comparable GAAP financial measure,
can be found in tables immediately following the condensed
consolidated balance sheets.
For purposes of this news release, Adjusted EBITDA is defined as
GAAP loss from continuing operations, less interest income and
other income (expense), net, provision for income taxes,
depreciation and amortization expenses, share-based compensation
expense and gain on the sale of assets. The company considers
Adjusted EBITDA important to understanding its historical results
and identifying current and future trends impacting its business.
Management uses Adjusted EBITDA to compare the company's
performance to that of prior periods and evaluate the company's
financial and operating results on a consistent basis from period
to period. The company also believes this measure, when viewed in
combination with the company's financial results prepared in
accordance with GAAP, provides useful information to investors to
evaluate ongoing operating results and trends. The adjustments to
the company's GAAP results are made with the intent of providing
both management and investors a more complete understanding of the
company's underlying operational results, trends and performance.
Additionally, adjusted EBITDA is not intended to be a measure of
cash flow for management's discretionary use. We believe that the
inclusion of Adjusted EBITDA is appropriate to provide additional
information to investors because securities analysts, noteholders
and other investors use these non-GAAP financial measures to assess
our operating performance across periods on a consistent basis and
to evaluate the relative risk of an investment in our
securities.
Adjusted EBITDA has limitations as an analytical tool, however,
including the following:
- Although depreciation and amortization are non-cash charges,
the assets being depreciated and amortized will often have to be
replaced in the future and adjusted EBITDA does not reflect any
cash requirements for such replacements;
- Adjusted EBITDA does not reflect our cash expenditures, or
future requirements for capital expenditures or contractual
commitments;
- Adjusted EBITDA does not reflect changes in, or cash
requirements for, our working capital needs;
- Adjusted EBITDA does not reflect our tax expense or any cash
requirements to pay income taxes; and
- Adjusted EBITDA does not reflect the impact of earnings or
charges resulting from matters we do not consider to be indicative
of our ongoing operations, but may nonetheless have a material
impact on our results of operations.
The presentation of Adjusted EBITDA is not meant to be
considered in isolation or as a substitute for or superior to the
company's financial results determined in accordance with GAAP. In
addition, the company's presentation of Adjusted EBITDA may not be
computed in the same manner as similarly titled measures used by
other companies, including other companies in our industry.
Conference Call Information
Concurrent will host a conference call today, Thursday,
September 7 at 5:00 p.m. ET to review its fiscal 2017 fourth
quarter and full year financial results. The call and presentation
materials will be webcast at www.concurrent.com, on the
"Investors" page, under the “Company” tab. The call can be also be
accessed live by dialing (800) 230-1059 (U.S.) or (612)
234-9959 (International) and entering passcode 170907. A webcast
replay will also be available at www.concurrent.com.
About Concurrent
Concurrent (NASDAQ:CCUR) is a global company that develops
software solutions focused on storing, protecting, transforming,
and delivering visual media assets. We enable the world’s leading
innovators in visual media to entertain, inform, and communicate,
by providing the tools to help them unlock their creativity and
share it with the world. We accomplish this by developing open
software solutions that make the world’s visual media available
online, when and where it is needed around the world. Concurrent
has offices located in North America, Europe and Asia. Visit
www.concurrent.com for further information and follow us on
Twitter: www.twitter.com/Concurrent_CCUR and LinkedIn at
www.linkedin.com/company/ccur.
Safe Harbor
Certain statements made or incorporated by reference in this
release may constitute “forward-looking statements” within the
meaning of the federal securities laws. Statements regarding future
events and developments and the company’s future performance,
including, but not limited to, management’s expectations, beliefs,
plans, estimates, or projections relating to the future, are
forward-looking statements within the meaning of these laws. All
forward-looking statements are subject to certain risks and
uncertainties that could cause actual events to differ materially
from those projected.
The risks and uncertainties which could affect our financial
condition or results of operations include, without limitation: the
potential consolidation of the markets that we serve;; delays or
cancellations of customer orders; non-renewal of maintenance and
support service agreements with customers; changes in product
demand; economic conditions; various inventory risks due to changes
in market conditions; margins of the content delivery business to
capture new business; our ability to reinvest the net proceeds from
the sale of our Real-Time segment in a manner that we believe will
generate an adequate return to our remaining business; fluctuations
and timing of large content delivery orders; uncertainties relating
to the development and ownership of intellectual property;
uncertainties relating to our ability and the ability of other
companies to enforce their intellectual property rights; the
pricing and availability of equipment, materials and inventories;
the concentration of our customers; failure to effectively manage
change; delays in testing and introductions of new products;
the impact of reductions in force on our operations; rapid
technology changes; system errors or failures; reliance on a
limited number of suppliers and failure of components provided by
those suppliers; uncertainties associated with international
business activities, including foreign regulations, trade controls,
taxes, tariffs and currency fluctuations; the impact of competition
on the pricing of content delivery products; failure to effectively
service the installed base; the entry of new, well-capitalized
competitors into our markets; the success of new content delivery
products, including acceptance of our new storage solutions; the
success of our relationships with technology and channel partners;
capital spending patterns by a limited customer base; the current
challenging macroeconomic environment; continuing unevenness of the
global economic recovery; global terrorism; privacy concerns over
data collection; our ability to utilize net operating losses to
offset cash taxes in the event of an ownership change as defined by
the Internal Revenue Service; earthquakes, tsunamis, floods and
other natural disasters in areas in which our customers and
suppliers operate; the process of evaluation of strategic
alternatives; and the availability of debt or equity financing to
support our liquidity needs.
Other important risk factors are discussed in Concurrent’s Form
10-K filed August 30, 2016 with the Securities and Exchange
Commission (“SEC”), and in subsequent filings of periodic reports
with the SEC. The risk factors discussed in the Form 10-K and
subsequently filed periodic reports under the heading “Risk
Factors” are specifically incorporated by reference in this press
release. Forward-looking statements are based on current
expectations and speak only as of the date of such statements.
Concurrent undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of future
events, new information, or otherwise.
All Concurrent product names and its logo are trademarks or
registered trademarks of Concurrent while all other product names
are trademarks or registered trademarks of their respective
owners.
|
Concurrent Computer Corporation |
Condensed Consolidated Statements of
Operations (Unaudited) |
(In Thousands Except Share and Per Share
Data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June
30, |
|
Year Ended June
30, |
|
|
|
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues: |
|
|
|
|
|
|
|
|
|
Product |
|
$ |
5,248 |
|
|
$ |
6,034 |
|
|
$ |
17,141 |
|
|
$ |
22,044 |
|
|
Service |
|
|
2,598 |
|
|
|
2,783 |
|
|
|
10,506 |
|
|
|
9,963 |
|
|
|
|
Total revenues |
|
|
7,846 |
|
|
|
8,817 |
|
|
|
27,647 |
|
|
|
32,007 |
|
Cost of
sales: |
|
|
|
|
|
|
|
|
|
Product |
|
|
2,234 |
|
|
|
1,858 |
|
|
|
7,632 |
|
|
|
8,544 |
|
|
Service |
|
|
1,204 |
|
|
|
1,208 |
|
|
|
4,820 |
|
|
|
4,660 |
|
|
|
|
Total cost of
sales |
|
|
3,438 |
|
|
|
3,066 |
|
|
|
12,452 |
|
|
|
13,204 |
|
Gross
margin |
|
|
4,408 |
|
|
|
5,751 |
|
|
|
15,195 |
|
|
|
18,803 |
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
Sales and
marketing |
|
|
2,766 |
|
|
|
2,645 |
|
|
|
11,130 |
|
|
|
9,950 |
|
|
Research
and development |
|
|
2,096 |
|
|
|
2,292 |
|
|
|
8,233 |
|
|
|
10,549 |
|
|
General and
administrative |
|
|
1,004 |
|
|
|
2,065 |
|
|
|
8,068 |
|
|
|
7,556 |
|
|
Gain (loss)
on sale of assets, net |
|
|
- |
|
|
|
16 |
|
|
|
- |
|
|
|
(4,100 |
) |
|
|
|
Total operating
expenses |
|
|
5,866 |
|
|
|
7,018 |
|
|
|
27,431 |
|
|
|
23,955 |
|
Operating
loss |
|
|
(1,458 |
) |
|
|
(1,267 |
) |
|
|
(12,236 |
) |
|
|
(5,152 |
) |
Other
income (expense), net |
|
|
(157 |
) |
|
|
183 |
|
|
|
88 |
|
|
|
446 |
|
Loss before
income taxes |
|
|
(1,615 |
) |
|
|
(1,084 |
) |
|
|
(12,148 |
) |
|
|
(4,706 |
) |
Provision
(benefit) for income taxes |
|
|
(661 |
) |
|
|
8,379 |
|
|
|
(1,037 |
) |
|
|
8,031 |
|
Loss from
Continuing Operations |
|
|
(954 |
) |
|
|
(9,463 |
) |
|
|
(11,111 |
) |
|
|
(12,737 |
) |
Income
(loss) from Discontinued Operations, net of income taxes |
|
|
34,009 |
|
|
|
(3,395 |
) |
|
|
39,492 |
|
|
|
1,624 |
|
Net income
(loss) |
|
$ |
33,055 |
|
|
$ |
(12,858 |
) |
|
$ |
28,381 |
|
|
$ |
(11,113 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
Continuing
operations |
|
$ |
(0.10 |
) |
|
$ |
(1.03 |
) |
|
$ |
(1.20 |
) |
|
$ |
(1.39 |
) |
|
Discontinued operations |
|
|
3.65 |
|
|
|
(0.37 |
) |
|
|
4.27 |
|
|
|
0.18 |
|
|
Net income
(loss) |
|
$ |
3.55 |
|
|
$ |
(1.40 |
) |
|
$ |
3.07 |
|
|
$ |
(1.21 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted weighted average shares outstanding |
|
|
9,313,977 |
|
|
|
9,174,852 |
|
|
|
9,252,275 |
|
|
|
9,154,437 |
|
Cash
dividends declared per common share |
|
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.48 |
|
|
$ |
0.48 |
|
Concurrent Computer Corporation |
Condensed Consolidated Statements of
Operations (Unaudited) |
(In Thousands Except Share and Per Share
Data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
|
|
|
June
30, |
|
March
31, |
|
|
|
|
|
2017 |
|
2017 |
Revenues: |
|
|
|
|
|
Product |
|
$ |
5,248 |
|
|
$ |
4,537 |
|
|
Service |
|
|
2,598 |
|
|
|
2,908 |
|
|
|
|
Total revenues |
|
|
7,846 |
|
|
|
7,445 |
|
Cost of
sales: |
|
|
|
|
|
Product |
|
|
2,234 |
|
|
|
2,226 |
|
|
Service |
|
|
1,204 |
|
|
|
1,152 |
|
|
|
|
Total cost of
sales |
|
|
3,438 |
|
|
|
3,378 |
|
Gross
margin |
|
|
4,408 |
|
|
|
4,067 |
|
Operating
expenses: |
|
|
|
|
|
Sales and
marketing |
|
|
2,766 |
|
|
|
2,588 |
|
|
Research
and development |
|
|
2,096 |
|
|
|
2,033 |
|
|
General and
administrative |
|
|
1,004 |
|
|
|
2,792 |
|
|
|
|
Total operating
expenses |
|
|
5,866 |
|
|
|
7,413 |
|
Operating
loss |
|
|
(1,458 |
) |
|
|
(3,346 |
) |
Other
income (expense), net |
|
|
(157 |
) |
|
|
21 |
|
Loss before
income taxes |
|
|
(1,615 |
) |
|
|
(3,325 |
) |
Benefit for
income taxes |
|
|
(661 |
) |
|
|
(143 |
) |
Loss from
Continuing Operations |
|
|
(954 |
) |
|
|
(3,182 |
) |
Income from
Discontinued Operations, net of income taxes |
|
|
34,009 |
|
|
|
1,524 |
|
Net income
(loss) |
|
$ |
33,055 |
|
|
$ |
(1,658 |
) |
|
|
|
|
|
|
|
|
Basic and
diluted earnings (loss) per share: |
|
|
|
|
|
Continuing
operations |
|
$ |
(0.10 |
) |
|
$ |
(0.34 |
) |
|
Discontinued operations |
|
|
3.65 |
|
|
|
0.17 |
|
|
Net income
(loss) |
|
$ |
3.55 |
|
|
$ |
(0.18 |
) |
|
|
|
|
|
|
|
|
Basic and
diluted weighted average shares outstanding |
|
|
9,313,977 |
|
|
|
9,261,862 |
|
Cash
dividends declared per common share |
|
$ |
0.12 |
|
|
$ |
0.12 |
|
Concurrent Computer Corporation |
|
Condensed Consolidated Statements of
Comprehensive Income (Loss) (Unaudited) |
|
(In Thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
|
|
|
|
June
30, |
|
March
31, |
|
June
30, |
|
June
30, |
|
|
|
|
|
|
2017 |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) |
|
$ |
33,055 |
|
|
$ |
(1,658 |
) |
|
$ |
(12,858 |
) |
|
$ |
28,381 |
|
|
$ |
(11,113 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
currency translation adjustment |
|
|
(225 |
) |
|
|
38 |
|
|
|
(29 |
) |
|
|
(478 |
) |
|
|
(231 |
) |
|
|
|
Pension and
post-retirement benefits, net of tax |
|
|
204 |
|
|
|
(19 |
) |
|
|
(433 |
) |
|
|
292 |
|
|
|
(423 |
) |
|
|
|
Other
comprehensive income (loss) |
|
|
(21 |
) |
|
|
19 |
|
|
|
(462 |
) |
|
|
(186 |
) |
|
|
(654 |
) |
|
|
|
|
Comprehensive income
(loss) |
|
$ |
33,034 |
|
|
$ |
(1,639 |
) |
|
$ |
(13,320 |
) |
|
$ |
28,195 |
|
|
$ |
(11,767 |
) |
|
Concurrent Computer Corporation |
Condensed Consolidated
Balance Sheets (Unaudited) |
(In Thousands) |
|
|
|
|
|
|
|
|
|
June 30, |
|
June 30, |
|
|
|
2017 |
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
Cash and
cash equivalents |
|
$ |
35,893 |
|
|
$ |
18,798 |
|
|
Short-term investments |
|
|
6,870 |
|
|
|
- |
|
|
Trade
accounts receivable, net |
|
|
6,930 |
|
|
|
8,862 |
|
|
Inventories |
|
|
1,865 |
|
|
|
2,342 |
|
|
Escrow
receivable for sale of Real-Time business |
|
|
2,000 |
|
|
|
- |
|
|
Prepaid
expenses and other current assets |
|
|
1,366 |
|
|
|
711 |
|
|
Current
assets of discontinued operations |
|
|
- |
|
|
|
9,215 |
|
|
Total
current assets |
|
|
54,924 |
|
|
|
39,928 |
|
|
|
|
|
|
|
|
Property,
plant and equipment, net |
|
|
1,726 |
|
|
|
2,578 |
|
|
Deferred
income taxes, net |
|
|
15 |
|
|
|
146 |
|
|
Other
long-term assets, net |
|
|
1,142 |
|
|
|
668 |
|
|
Noncurrent assets of discontinued operations |
|
|
- |
|
|
|
1,916 |
|
|
Total
assets |
|
$ |
57,807 |
|
|
$ |
45,236 |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Accounts
payable and accrued expenses |
|
$ |
8,164 |
|
|
$ |
6,315 |
|
|
Deferred
revenue |
|
|
1,454 |
|
|
|
4,017 |
|
|
Current
liabilities of discontinued operations |
|
|
- |
|
|
|
6,985 |
|
|
Total
current liabilities |
|
|
9,618 |
|
|
|
17,317 |
|
|
|
|
|
|
|
|
Long-term
deferred revenue |
|
|
66 |
|
|
|
198 |
|
|
Pension
liability |
|
|
3,582 |
|
|
|
3,720 |
|
|
Other
long-term liabilities |
|
|
1,072 |
|
|
|
1,056 |
|
|
Noncurrent liabilities of discontinued operations |
|
|
- |
|
|
|
1,947 |
|
|
Total
liabilities |
|
|
14,338 |
|
|
|
24,238 |
|
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY |
|
|
|
|
|
Common
stock |
|
|
94 |
|
|
|
92 |
|
|
Additional paid-in capital |
|
|
212,018 |
|
|
|
210,971 |
|
|
Accumulated deficit |
|
|
(165,498 |
) |
|
|
(189,265 |
) |
|
Treasury
stock, at cost |
|
|
(255 |
) |
|
|
(255 |
) |
|
Accumulated other comprehensive income (loss) |
|
|
(2,890 |
) |
|
|
(545 |
) |
|
Total
stockholders' equity |
|
|
43,469 |
|
|
|
20,998 |
|
Total
liabilities and stockholders' equity |
|
$ |
57,807 |
|
|
$ |
45,236 |
|
Concurrent Computer Corporation |
Reconciliation
of GAAP to Non-GAAP
Financial Measures (Unaudited) |
(In Thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
June
30, |
|
March
31, |
|
June
30, |
|
June
30, |
|
|
2017 |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Loss from
Continuing Operations |
|
$ |
(954 |
) |
|
$ |
(3,182 |
) |
|
$ |
(9,463 |
) |
|
$ |
(11,111 |
) |
|
$ |
(12,737 |
) |
Addback
(deduct): |
|
|
|
|
|
|
|
|
|
|
Other
(income) expense, net |
|
|
157 |
|
|
|
(21 |
) |
|
|
(183 |
) |
|
|
(88 |
) |
|
|
(446 |
) |
Provision
(benefit) for income taxes |
|
|
(661 |
) |
|
|
(143 |
) |
|
|
8,379 |
|
|
|
(1,037 |
) |
|
|
8,031 |
|
Depreciation |
|
|
325 |
|
|
|
339 |
|
|
|
344 |
|
|
|
1,409 |
|
|
|
1,328 |
|
Amortization |
|
|
3 |
|
|
|
3 |
|
|
|
3 |
|
|
|
12 |
|
|
|
45 |
|
Share-based compensation |
|
|
233 |
|
|
|
122 |
|
|
|
205 |
|
|
|
857 |
|
|
|
708 |
|
(Gain)
loss on sale of assets, net |
|
|
- |
|
|
|
- |
|
|
|
16 |
|
|
|
- |
|
|
|
(4,100 |
) |
Non-GAAP Adjusted
EBITDA from Continuing Operations |
|
$ |
(897 |
) |
|
$ |
(2,882 |
) |
|
$ |
(699 |
) |
|
$ |
(9,958 |
) |
|
$ |
(7,171 |
) |
For more information, contact:
Media Relations:
Sandra Dover
(678) 258-4112
Sandra.dover@concurrent.com
Investor Relations:
Doug Sherk
(415) 652-9100
dsherk@evcgroup.com
Todd Kehrli
(310) 625-4462
tkehrli@evcgroup.com
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