Concurrent Computer Corporation (CCUR) saw its loss widen to $1.66 million, or $0.18 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.18 million, or $0.13 a share.
Revenue during the quarter dropped 3.07 percent to $14.98 million from $15.46 million in the previous year period. Gross margin for the quarter expanded 527 basis points over the previous year period to 56.77 percent. Operating margin for the quarter stood at negative 10.50 percent as compared to a negative 12.36 percent for the previous year period.
Operating loss for the quarter was $1.57 million, compared with an operating loss of $1.91 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $1.01 million compared to negative $1.32 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 6.72 percent for the quarter compared to negative 8.55 percent in the last year period.
"We continued building momentum during the quarter as we expanded our Aquari customer base by four to a total of 17 active deployments," said Derek Elder, President and chief executive officer. "The business model of our Aquari product line provides a product and service revenue stream for the life of the installation, which makes new customer acquisition a key metric for future revenue growth. We also added three new CDN customers in the quarter, which is a testament to the competitive position of our portfolio."
Working capital drops significantly
Concurrent Computer Corporation has witnessed a decline in the working capital over the last year. It stood at $15.29 million as at Mar. 31, 2017, down 36.01 percent or $8.61 million from $23.90 million on Mar. 31, 2016. Current ratio was at 1.92 as on Mar. 31, 2017, down from 2.48 on Mar. 31, 2016.
Days sales outstanding went down to 63 days for the quarter compared with 78 days for the same period last year.
Days inventory outstanding has decreased to 20 days for the quarter compared with 40 days for the previous year period.
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