Concurrent to Unveil "New Video Ecosystem" at IBC

--Company Reports Higher Revenues and Profits for its Fiscal Fourth Quarter

Concurrent, a company that specializes in VOD, media data and advanced advertising solutions, said Tuesday that it will use the IBC show in Amsterdam (booth 4.B74) to unveil a new "video ecosystem" which it bills as connecting media creation, publishing and delivery service companies with consumers via a unified video delivery and data collection platform that can tap into any screen. According to the company, the solution delivers TV-quality video to any device--including TV sets, tablet computers and smartphones--and allows key media-related metrics to be captured from each screen at a census level. "Video consumption--driven by the explosive growth of new video-enabled devices, like smartphones, Web-enabled TV's, home entertainment devices, tablet PC's and the emergence of 3D--continues to accelerate across the globe," Concurrent president and CEO, Dan Mondor, said in a prepared statement. "And, in this rapidly changing environment, it is vital that operators, content providers and advertisers have leading-edge video distribution technology and media data solutions to monetize their video assets. Concurrent has created a video ecosystem that has unmatched quality, reliability, and scalability for video content delivery and its unique ability to collect, aggregate, and correlate video consumption data with guaranteed accuracy for any video content, on any device, and importantly in real time."

According to Concurrent, its new video ecosystem is based on Video-to-TV, Video-to-PC and Video-to-Mobile software modules that can operate independently or in unison, and that have been designed to support a new generation of revenue-generating video applications, including Web and mobile TV, network DVR, 3D VOD and interactive TV, from a common platform. The company says that this "unified video delivery solution" reduces the operational complexity associated with launching multiscreen services, and provides a flexible and reliable foundation for delivering commercial video and personal content to any device, over any network.

Concurrent also claims that it adds "another level of sophistication" to multiscreen delivery through its media data and advertising solutions (MDAS), which it says can collect, correlate, aggregate and warehouse timely and accurate viewership data across VOD, linear-TV, DVR, interactive TV, Web and mobile platforms. According to the company, this data management ecosystem allows an operator's marketing, programming and advertising teams to identify new opportunities for revenue growth and brand enhancement through interactive applications, advanced advertising and consumer data monetization.

In other Concurrent news: The company has released financial results for its fiscal fourth quarter and year, ended June 30th:

  • Q4 revenues totaled $18.1 million, compared to $15.9 million for the year-ago quarter.
  • Q4 gross margins were 62.3%, compared to 59.2% for the year-ago quarter.
  • Q4 operating expenses totaled $9.7 million, compared to $9.1 million for the year-ago quarter.
  • Q4 net income totaled $886,000, or $0.11 per diluted share, compared to $245,000, or $0.03 per diluted share, for the year-ago quarter.
  • Annual revenues totaled $60.4 million, compared to $71.6 million for the prior year.
  • Annual gross margins were 60.2%, compared to 57.7% for the prior year.
  • Annual operating expenses totaled $36.7 million, compared to $55.6 million for the prior year.
  • Annual net losses totaled $1 million, compared to $14.5 million for the prior year (note: the 2009 figure included a $17.1 million impairment charge incurred in the fiscal third quarter of that year).
  • In the course of the year, the company generated approximately $6.5 million of cash from operating activities, compared to $4.3 million for the prior year.
  • At the end of the fiscal year, the company's cash balance was approximately $31.4 million, after it paid off its $949,000 revolving line of credit balance during the fourth quarter.

Concurrent blamed the year-over-year decline in its revenue primarily on "lower capital expenditures in video-on-demand systems from two North American cable MSO customers, particularly in the first half of fiscal year 2010." "Our financial results this quarter were strong in all areas of the business leading to the highest quarterly operating income in recent history," Concurrent's Dan Mondor said in a prepared statement. "We continue to successfully execute against our strategic business objectives to establish a more robust and predictable revenue model for the business by diversifying our video and MDAS customer base, growing our managed services business, and building contribution from our established customers. I believe we are well-positioned for long-term growth with our new three-screen video and media data solutions. I am encouraged by the expanding market awareness of Concurrent and the steady increase in customer acceptance of these solutions."

Concurrent says that it accomplished a number of major milestones during its fiscal fourth quarter, including: "continued successful transformation of the media data and advertising solutions business by transitioning two additional customers to the managed services business model; completing deployment of its cross-service data management solution across Charter Communications' entire cable footprint as part of the multi-year agreement announced in March 2010; expanding the market presence of new three-screen over-the-top (OTT) video solutions with a successful trial at a second major European service provider; and deploying video-on-demand systems with two new customers in South America."

North America