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Concurrent Computer swings to loss in fiscal Q3

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According to Market Intelligence, December 2022

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Concurrent Computer swings to loss in fiscal Q3

CCUR Holdings Inc. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 11 cents per share, compared with 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.0 million, compared with income of $977,500 in the year-earlier period.

The normalized profit margin dropped to negative 6.5% from 5.7% in the year-earlier period.

Total revenue decreased 9.7% on an annual basis to $15.5 million from $17.1 million, and total operating expenses rose 11.7% from the prior-year period to $17.4 million from $15.5 million.

Reported net income came to a loss of $1.2 million, or a loss of 13 cents per share, compared to income of $821,900, or 9 cents per share, in the year-earlier period.