Concurrent Computer Corporation (CCUR) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $2.93 million, or $ 0.32 a share in the quarter, against a net profit of $3.21 million, or $0.35 a share in the last year period. Revenue during the quarter went down marginally by 1.76 percent to $13.12 million from $13.35 million in the previous year period. Gross margin for the quarter contracted 408 basis points over the previous year period to 54.77 percent. Operating margin for the quarter stood at negative 22.44 percent as compared to a positive 22.20 percent for the previous year period.
Operating loss for the quarter was $2.94 million, compared with an operating income of $2.96 million in the previous year period.
Adjusted EBITDA for the quarter stood at negative $2.24 million compared to negative $0.55 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 17.10 percent for the quarter compared to negative 4.15 percent in the last year period.
"In the first quarter, Concurrent reported revenue of $13.1 million. The results were impacted by the timing of a large order from a Content Delivery customer, which we received shortly after the close of the quarter," said Derek Elder, president and chief executive officer of Concurrent. "While we had higher expectations in the quarter for our Content Delivery business, we had another strong quarter with our Real-Time customers and made good progress on the development of our Aquari scale-out storage product."
Working capital drops significantlyConcurrent Computer Corporation has witnessed a decline in the working capital over the last year. It stood at $18.46 million as at Sep. 30, 2016, down 33.66 percent or $9.37 million from $27.83 million on Sep. 30, 2015. Current ratio was at 2.20 as on Sep. 30, 2016, down from 3.14 on Sep. 30, 2015. Days sales outstanding went up to 72 days for the quarter compared with 71 days for the same period last year.
Days inventory outstanding has decreased to 21 days for the quarter compared with 54 days for the previous year period.
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