Concurrent Computer Corp (CCUR) saw its loss narrow to $0.09 million, or $0.01 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.28 million, or $0.03 a share.
Revenue during the quarter grew 4.35 percent to $15.55 million from $14.90 million in the previous year period. Gross margin for the quarter contracted 215 basis points over the previous year period to 60.78 percent. Operating margin for the quarter stood at negative 0.31 percent as compared to a negative 2.40 percent for the previous year period.
Operating loss for the quarter was $0.05 million, compared with an operating loss of $0.36 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.72 million compared with $0.29 million in the prior year period. At the same time, adjusted EBITDA margin improved 272 basis points in the quarter to 4.65 percent from 1.93 percent in the last year period.
"We believe our second quarter results begin to illustrate Concurrent’s evolution as we continue to broaden our customer base and expand the addressable market for our Content Delivery products," said Derek Elder, president and chief executive officer. "As we execute our plan to capitalize on the market opportunity, we should generate a more consistent sequential revenue trend as we move into fiscal 2018. In addition, we are positioned to grow our revenue as we bring cost-efficient media delivery and storage solutions, like our Aquari product line, to a broader market. Meanwhile, our Real-Time segment had an excellent quarter driven by strength in our Asia-Pacific markets and expanding footprint in Automotive."
Working capital drops significantly
Concurrent Computer Corp has witnessed a decline in the working capital over the last year. It stood at $17.41 million as at Dec. 31, 2016, down 34.39 percent or $9.12 million from $26.53 million on Dec. 31, 2015. Current ratio was at 2.39 as on Dec. 31, 2016, down from 3.01 on Dec. 31, 2015.
Days sales outstanding went down to 54 days for the quarter compared with 69 days for the same period last year.
Days inventory outstanding has decreased to 15 days for the quarter compared with 51 days for the previous year period.
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