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Shares of Concurrent Computer Corp. (CCUR) Trade Lower on Fourth Quarter and Fiscal Year-End 2008 Financial Results

Concurrent Computer Corporation (NASDAQ: CCUR), a leading provider of real-time, Linux-based computing technologies for commercial and government markets, recently announced its financial results for the fourth quarter and year-end results for the fiscal year. Shares of the company’s stock moved lower earlier this week on the quarterly revenue announcement of $17.6 million, compared to $21.09 million for the same period in 2007.

The company’s net loss for the fourth quarter totaled $0.12 per fully diluted share, compared to a loss of $0.09 per share for the same period one-year earlier. Total year-end revenue reached $70.8 million, up slightly from $69.1 million in fiscal year 2007. Due to a restructuring of operations, Concurrent Computer Corporation’s overall cash position improved by more than $6.9 million during fiscal 2008. The company closed the year with $27 million in cash and $25 million in working capital.

The president and chief executive officer of the company, Dan Mondor, stated, “Our efforts have resulted in a significant improvement in our overall financial performance, including year-over-year increase in revenues and a 700 basis point improvement in gross margins over last year’s results. We expect continued revenue growth and operating profit improvement in fiscal 2009. These improvements are expected to be in the second half.”

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