FBR analyst lowers Brian Coyne lowers estimates while maintaining an Outperform rating for Concurrent Computer Corp. (CCUR) in a note to clients:
We reiterate Outperform on shares of CCUR, given our positive outlook for its Real Time software business and its potential to deliver significant EPS leverage, while we expect modest growth for its video-on-demand (NASDAQ:VOD) business. We slightly lower our revenue and EPS outlook for FY06 (June) to reflect 1) slower cable capex in the latter months of 2005, and 2) longer acceptance times by customers as CCUR's deployments become more software-oriented. We also think Comcast (CMCSA) is now less likely to ramp up VOD spending quickly in 1H of CY06, given other projects. Most important to our Outperform rating, however, is our better visibility into the opportunity (if not quite the timing) around its Linux-based software business.
CCUR 1-yr Chart