EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONCURRENT ANNOUNCES FOURTH QUARTER 2004 EARNINGS
RELEASE DATE AND PROVIDES UPDATED GUIDANCE
ATLANTA, GEORGIA, JULY 1, 2004 - Concurrent Computer Corporation (NASDAQ:
CCUR), a worldwide leader of on-demand technology, today announced that it will
release fourth quarter and full year 2004 financial results after the market
close on Thursday, August 12, 2004. Concurrent management will also conduct a
conference call to discuss these results the following morning, Friday, August
13, 2004 at 10:00 a.m. EST. The call will be broadcast live over the Internet
available on the Investor Relations section of the company's web site.
Additionally, the company revised financial expectations for the fiscal
2004 fourth quarter. For the company's fiscal fourth quarter ended June 30,
2004, the company expects total revenues to aggregate approximately $14 million,
subject to normal year-end closing procedures and completion of the annual audit
by the company's external auditors. VOD revenue is expected to be approximately
$8 million and Integrated Solutions Division revenue is expected to be
approximately $6 million.
The primary reason for the lower VOD revenue expectations relate to the
timing of the receipt of anticipated purchase orders for new system deployments.
ISD revenue is lower primarily as a result of domestic government related
spending delays.
For the company's fiscal 2004 fourth quarter, the company expects its loss
per share to be larger than the 5 to 8 cents per share guidance provided on
April 22, 2004, primarily due to the reduced revenue for the quarter. The
company will provide further information when it releases its final operating
results for the fourth quarter on August 12, 2004 following completion of the
normal year end closing and annual auditing processes.
ABOUT CONCURRENT
Concurrent Computer Corporation (www.ccur.com) is a worldwide leader in
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
network
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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: changes in our fourth quarter results
due to year-end close and audit processes; 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 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;
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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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