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Concurrent Stays Consistent: 'Buy'

9/01/2002 8:00 PM Eastern

SunTrust Robinson Humphrey cable analyst Gary Farber maintained his "buy" rating on Concurrent Computer Corp., citing the video-on-demand equipment vendor's consistent growth. In the fourth quarter ended June 30, Concurrent reported its third consecutive period of better-than-expected revenue and earnings growth. Despite that performance, Concurrent shares dropped 25 percent ($1.09) after its earnings conference call on Aug. 23. Farber attributed the drop to uncertainty surrounding customer Cox Communications Inc.'s decision to delay its VOD rollout, and management comments that the asking price per stream had paced 4 percent lower than analysts' estimates. "Despite these issues, the company has continued to manage through delivering solid results and better-than-estimated margin improvement," Farber wrote.

September