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Sirius XM Holdings Inc. Message Board

  • goodwe212 goodwe212 Apr 18, 2013 3:58 AM Flag

    Could Become Next Major Short-Term Gainer


    Multi-screen video delivery solutions (video delivery to tablets/smartphones, etc.) will be the biggest area of investment for pay-TV companies in 2013 and Concurrent (CCUR) is capturing a huge share of this booming market! CCUR only has 8.72mm shares outstanding and is currently $6.75 with $24.6mm in cash and no debt. CCUR has an enterprise value of $34.26mm, which is only 0.52X its latest annualized revenues of $66.4mm and 3X its trailing nine month cash flow from operations annualized. CCUR's video business, which already has the #1 largest video-on-demand (VOD) market share with a reach of 50 million households, is currently receiving no value!

    Ericsson (ERIC) just announced they are paying Microsoft (MSFT) almost $200mm to acquire their Mediaroom multi-screen IPTV software business to increase their multi-screen reach by 11 million pay-TV households to 16 million for a 25% multi-screen market share. CCUR's MediaHawk multi-screen software is superior to Mediaroom and CCUR has already signed multi-screen deals with the #1 largest cable TV companies in Japan, Germany, and the UK. These huge CCUR multi-screen clients have a total of 14.8 million subscribers, which will make CCUR #2 in this space behind ERIC.

    CCUR spent $15mm just to acquire their Media Data Intelligence business, which tracks 35mm pay-TV subscribers and holds a 35% market share in the markets it serves. CCUR also has a "real-time" ultra high performance computer technology business with annualized revenue of $27.6mm and 4 of the world's top 5 defense manufacturers as clients. This business is probably worth $25-30mm on its own.

    CCUR's multi-screen/VOD video business with $33.8mm in annualized revenue is currently being valued at less than zero! CCUR is extremely profitable with its EPS doubling the past two quarters in a row! Major consolidation has been taking place in this space so far this year.

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