Editor ©RapidTVNews | 01-09-2011
In what may be a portent for the industry, video and media data solutions provider Concurrent has finished the last quarter of a relatively strong financial year on a low note.
Even though for the full fiscal year, revenue increased over 10% year on year to $66.8 million, the company says that what it calls a sluggish economic recovery is posing a headwind, as witnessed in Q411 where revenues amounted to $15.1, a full $3 million less than those posted in the comparable period of fiscal 2010.
The company reported a net loss of $1.4 million in the fourth quarter of fiscal 2011, contributing to a net loss of $3.3 million for the full fiscal year 2011. This compared with a net loss of $1.0 million for fiscal 2010.
Attributing reasons for the disappointing performance, Dan Mondor, Concurrent president and CEO said: "We recently added new customers in China, Europe and North America and a new customer in the internet content delivery network (CDN) market. While the sluggish economic recovery poses a headwind, as witnessed in the fourth quarter, we are committed to continuing to provide our customers with innovative video and media data solutions they need to remain competitive and thrive."
Looking forward, and attempting to offer reasons for optimism, Concurrent stressed that it had also solid progress in fiscal 2011 expanding its global customer base in both video and media data solutions. In particular it noted that it had signed an agreement with one of the largest MSO's in Europe for Concurrent's video solutions and deployed its traditional video on demand (VOD) solutions with Jiangsu CATV (the second largest cable operator in the world) in several markets in China. Moreover, it noted that it had introduced a new video streaming service for Apple mobile devices in Japan with J:COM.