Concurrent Computer Corporation (CCUR)

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Concurrent Computer Corp. (CCUR)

F1Q09 Earnings Call

October 24, 2008 10:00 am ET


Dan Mondor – Chief Executive Officer, President

Emory O. Berry – Chief Financial Officer

Kirk Somers – Executive VP of Investor Relations

David King – Chief Marketing Officer

Jim Brickmeyer – VP of Product Line Management


Alan Davis – D. A. Davidson & Co.

Todd Kauffmann – Raymond James



(Operator Instructions). I would now like to introduce your host, Mr. Kirk Somers, Executive Vice President.

Kirk Somers

Good morning everyone and welcome to Concurrent's earnings conference call for the first quarter of fiscal year 2009. The format for this morning's call will be as follows, Dan Mondor, Concurrent's President and Chief Executive Officer will review the ongoing operations of business and Emory Berry our Chief Financial Officer will conclude the call with a detailed review of the financials for the quarter.

Following our scripted comments we will be pleased to take your questions. We also have David King our new Chief Marketing Officer and Jim Brickmeyer our new Vice President of Product Line Management with us today and they will be available to answer questions following the prepared remarks.

Before we begin, please let me remind you that this presentation may include forward-looking statements such as believes, expects, estimates, anticipates and other similar expressions. These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Accordingly, the cautionary statements made in Concurrent's form 10-K filed August 27, 2008 are incorporated herein by reference. The company's actual results could differ materially from the forward-looking information in this presentation.

The content of this webcast contains time sensitive information that is accurate only as of the date of this live broadcast, October 24, 2008. Any redistribution, retransmission or rebroadcast of this presentation in any form without the express written consent of Concurrent is prohibited. I caution you that any forward-looking statements made by the company are not guarantees of future performance and that a variety of factors could cause the company's actual results and experience to differ materially from the anticipated or projected results which the company may discuss on this conference call.

You should all have a copy of the earnings release documents. If you have not received a copy, please call Sandra Dover at 678-258-4112 and she will be pleased to provide you with a copy. With that said, I'll turn it over to Dan.

Dan Mondor

Good morning everyone and thank you for joining us today. I'll make a couple of comments on the first quarter and then provide an update on some of our key initiatives. Following that Emory will provide an in-depth review of the Q1 results including the buyback, the affect of the macro economic conditions as we see them, and our current outlook.

In the first quarter we achieved the following, we grew overall revenue, we improved gross margins and we reduced our operating expenses. The management team is focused on driving profitable revenue growth and making transformational changes to strengthen the business. We are early in these efforts and certainly there's more work to be done.

On the call in August and in my shareholder letter in September we outlined a number of our strategic priorities so let me give you an update on some of these.

Our focus and operational effectiveness continues and on that point we are transforming our sales and marketing capabilities and have done the following. We've established a product management discipline led by Jim Brickmeyer, who is on the call with us today, created a new marketing organization, appointed a new leader responsible for on-demand sales in the Americas and AMEA, and we've initiated the recruitment of a new head of global sales.

For the new marketing organization, as we reported we were actively searching for a chief marketing officer whose primary responsibilities were to lead our global strategy, expand our global market reach, and form strategic partnerships and alliances to complement our core technology.

This week we announced that David King has joined us as our CMO. David's experience in both service provider and enterprise vertical markets is the right fit for our business. In addition, his alliance in global marketing experience and capabilities will strengthen our business.

Next, we are making changes to allow us to better address opportunities in international markets. The European on-demand and IPTV business has continued to gain momentum for us as evidenced by the TV Cabo success in Portugal. In addition, we have increased the on-demand sales resources in that region and are encouraged by a marked increase in customer engagement.

On the innovation front, we have been aggressively pursuing new technologies as well as extending the capability of our existing platforms. We've had very positive feedback from our customers on our media cache 1000 solid-state storage arrays and we are working to extend the use of flash-based media in our products.

We are continuing to be engaged in target advertising initiatives with both our data analytics and screening products. We believe that audience measurement is the foundation for monetizing future video delivery business models. To that end, one of the steps we've taken is enhancing our Everstream Data management products to improve performance for larger data sets, which will be required to support these emerging event advertising business models.

On another note, we've made great progress in our real-time Linux operating system and software tools for the embedded systems market.

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