EXHIBIT 99.1
FOR IMMEDIATE RELEASE
INDUSTRY VETERAN, GARY TRIMM, NAMED PRESIDENT AND CEO OF CONCURRENT
- Warren Neuburger Named ISD President -
ATLANTA, GEORGIA, JUNE 24, 2004 - Concurrent Computer Corporation (NASDAQ:
CCUR), a worldwide leader of on-demand technology, today announced several
changes to its executive management team. Concurrent announced that
telecommunication industry veteran Gary Trimm will join Concurrent to assume the
roles of president and chief executive officer. Mr. Trimm's 25 plus year career
includes 15 years of extensive, high-tech leadership experience in
telecommunications, which span the satellite, cable television and telephony
markets. Mr. Trimm joins Concurrent from OpVista, Inc., a start-up company
providing a next generation Optical Transport System to the telecommunication
industry, where he was president and chief executive officer. Mr. Trimm will
continue to serve on the board of directors of OpVista. Mr. Trimm was
instrumental in formulating and executing OpVista's strategic plan and
redirecting its products toward the North American cable television multiple
system operators. Prior to OpVista, Mr. Trimm held executive positions at
Scientific-Atlanta, including president of the Subscriber Systems Division, and
as president and chief executive officer of Compression Labs. Mr. Trimm began
his professional career in the U.S. Navy as an officer in the nuclear submarine
service. During his Navy years, he served as an engineering officer and
operations officer on both ballistic missile and fast attack submarines.
Coinciding with Mr. Trimm's arrival at Concurrent on or before July 26,
2004, Jack Bryant will step down from his roles as president, chief executive
officer and board member and will be pursuing other opportunities. Mr. Bryant
has served as president and chief executive officer of Concurrent since late
2000.
Separately, Concurrent announced Warren Neuburger as president of the
Integrated Solutions Division, effective immediately. Mr. Neuburger brings a
proven track record of in-depth operational experience evidenced by successes in
his two most recent roles as president and chief operating officer at Optio
Software Inc. and executive vice president - Products at Glenayre Technologies
Inc. Mr. Neuburger replaces Mr. Bryant, the acting Integrated Solutions Division
president.
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Concurrent/Management Page 6 June 24, 2004
Steve Nussrallah, Concurrent's chairman of the board, stated, "For almost
four decades, Concurrent has provided expert solutions to mission critical
applications in the real-time computing industry and, more recently, has become
a leader in the evolution of Video-On-Demand in the North American cable
television industry. I am confident that the addition of these dynamic, proven
leaders will play a significant role in the further development and execution of
our strategic plan in both our Integrated Solutions and Video-On-Demand industry
segments." He added, "I also want to express my appreciation to Jack Bryant for
his diligence over the past 3 plus years as President and CEO and wish him the
very best in his new endeavors."
ABOUT CONCURRENT
Concurrent Computer Corporation (www.ccur.com) is a worldwide leader in
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providing digital VOD systems to the broadband industry and real-time computer
systems for industry and government. Concurrent's VOD systems are utilized
within the broadband cable, DSL, and IP-based markets. Within the digital cable
market, Concurrent is a recognized leader, currently serving nine of the largest
domestic network operators in 80 markets, surpassing 15.8 million basic
subscribers and 5.2 million digital subscribers. Concurrent's proven technology
provides a flexible, comprehensive, robust solution for HFC, DSL, and IP-based
networks. The company's powerful and scalable VOD systems are based on open
standards and are integrated with the leading broadband technologies. Concurrent
is also a leading provider of high-performance, real-time computer systems,
solutions, and software that focus on hardware-in-the-loop and man-in-the-loop
simulation, data acquisition, and industrial control systems for commercial and
government markets. Concurrent has nearly four decades of experience in
real-time technology and provides its best of breed solutions through offices in
North America, Europe, Asia, and Australia.
Certain statements made or incorporated by reference in this release may
constitute "forward-looking statements" within the meaning of the federal
securities laws. When used or incorporated by reference in this release, the
words "believes," "expects," "estimates," "anticipates," and similar expressions
are intended to identify forward-looking statements. Statements regarding future
events and developments and our future performance, as well as our 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: our ability to keep our customers
satisfied; availability of video-on-demand content; delays or cancellations of
customer orders; changes in product demand; economic conditions; various
inventory risks due to changes in market conditions; uncertainties relating to
the
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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 limited operating history of our video-on-demand segment; the
concentration of our customers; failure to effectively manage growth; delays in
testing and introductions of new products; rapid technology changes; demand
shifts from high-priced, proprietary real-time systems to low-priced, open
server systems; system errors or failures; reliance on a limited number of
suppliers; uncertainties associated with international business activities,
including foreign regulations, trade controls, taxes, and currency fluctuations;
the highly competitive environment in which we operate and predatory pricing
pressures; failure to effectively service the installed base; the entry of new
well-capitalized competitors into our markets; the success of new products in
both the VOD and ISD divisions; the success of our new initiative in our CFSI
subsidiary to penetrate opportunities with the U.S. government; the availability
of Linux software in light of issues raised by SCO group; capital spending
patterns by a limited customer base; and contract obligations that could impact
revenue recognition.
Other important risk factors are discussed in our Form 10-K filed with the
Securities and Exchange Commission on September 18, 2003 and may be discussed in
subsequent filings with the SEC. The risk factors discussed in such Form 10-K
under the heading "Risk Factors" are specifically incorporated by reference in
this press release. Our forward-looking statements are based on current
expectations and speak only as of the date of such statements. We undertake no
obligation to publicly update or revise any forward-looking statement, whether
as a result of future events, new information, or otherwise.
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Note to Editors: For additional company or product information from Concurrent,
please contact Concurrent, 4375 River Green Parkway, Suite 100, Duluth, GA
30096. Call toll free in the U.S. and Canada at (877) 978-7363, fax (678)
258-4199. Readers can also access information through the company's Web site at
www.ccur.com.
Concurrent Computer Corporation and its logo are registered and unregistered
trademarks of Concurrent Computer Corporation. All other product names are
trademarks or registered trademarks of their respective owners.
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