SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 2001
Concurrent Computer Corporation
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-13150
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(Commission File Number)
04-2735766
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(IRS Employer Identification Number)
4375 River Green Parkway, Duluth, Georgia 30096
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(Address of principal executive offices)
Registrant's telephone number, including area code: (678) 258-4000
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
Set forth below for Concurrent Computer Corporation are (1) the condensed
consolidated balance sheets as of September 30, 2001 (unaudited) and June 30,
2001, (2) the unaudited condensed consolidated statements of operations for the
three months ended September 30, 2001 and the three months ended September 30,
2000, and (3) the unaudited segment data for the three months ended September
30, 2001 and the three months ended September 30, 2000.
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CONCURRENT COMPUTER CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
SEPTEMBER 30, JUNE 30,
2001 2001
(UNAUDITED)
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ASSETS
Cash and cash equivalents $ 29,423 $ 9,460
Trade accounts receivable, net 13,981 14,348
Inventories 7,005 7,187
Prepaid expenses and other current assets 1,434 1,058
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Total current assets 51,843 32,053
Property, plant and equipment, net 10,515 10,484
Purchased developed computer software, net 1,536 1,583
Goodwill, net 10,744 10,744
Other long-term assets, net 2,214 2,188
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Total assets $ 76,852 $ 57,052
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LIABILITIES
Accounts payable and accrued expenses $ 11,089 $ 13,929
Deferred revenue 2,872 3,300
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Total current liabilities 13,961 17,229
Long-term deferred revenue 1,161 1,193
Other long-term liabilities 5,437 5,347
STOCKHOLDERS' EQUITY
Common stock 608 551
Additional Paid-in Capital 166,042 140,352
Treasury stock (58) (58)
Retained earnings (deficit) (105,770) (102,760)
Accumulated other comprehensive loss (4,529) (4,802)
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Total stockholders' equity 56,293 33,283
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Total liabilities and stockholders' equity $ 76,852 $ 57,052
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CONCURRENT COMPUTER CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SEPTEMBER 30,
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2001 2000
(Unaudited) (Unaudited)
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Revenues:
Product sales
Real-time systems $ 5,336 $ 4,711
Video-on-demand systems 3,513 5,437
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Total product sales 8,849 10,148
Service and other 5,253 6,164
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Total 14,102 16,312
Cost of sales:
Real-time and video-on-demand systems 4,793 5,561
Service and other 2,849 3,160
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Total 7,642 8,721
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Gross margin 6,460 7,591
Operating expenses:
Sales and marketing 4,154 4,073
Research and development 3,461 2,631
General and administrative 1,909 2,467
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Total operating expenses 9,524 9,171
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Operating income (loss) (3,064) (1,580)
Other income (loss) 204 (64)
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Income (loss) before income taxes (2,860) (1,644)
Provision for income taxes 150 150
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Net income (loss) $ (3,010) $ (1,794)
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Basic net income (loss) per share $ (0.05) $ (0.03)
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Diluted net income (loss) per share $ (0.05) $ (0.03)
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Basic weighted average shares outstanding 59,564 53,988
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Diluted weighted average shares outstanding 59,564 53,988
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CONCURRENT COMPUTER CORPORATION
SEGMENT DATA
(IN THOUSANDS)
REAL-TIME DIVISION XSTREME DIVISION
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THREE MONTHS ENDED THREE MONTHS ENDED
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09/30/2001 09/30/2000 09/30/2001 09/30/2000
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
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Revenues:
Product Sales $ 5,336 $ 4,711 $ 3,513 $ 5,437
Service and other 5,253 6,164 - -
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Total 10,589 10,875 3,513 5,437
Cost of sales:
Systems 2,501 2,390 2,292 3,171
Service and other 2,849 3,160 - -
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Total 5,350 5,550 2,292 3,171
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Gross margin 5,239 5,325 1,221 2,266
Operating expenses
Sales and marketing 1,675 1,963 2,479 2,110
Research and development 1,232 829 2,229 1,802
General and administrative 919 930 990 1,537
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Total operating expenses 3,826 3,722 5,698 5,449
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Operating income (loss) $ 1,413 $ 1,603 $ (4,477) $ (3,183)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: October 25, 2001.
CONCURRENT COMPUTER CORPORATION
By: /s/ Steven R. Norton
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Steven R. Norton
Executive Vice President, Chief Financial
Officer and Secretary
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