Concurrent Computer Corp, Tinton Falls, New Jersey joined the chorus of woe, saying a shortfall in estimated fourth quarter revenues means it expects to report a substantial loss for the fourth quarter to June 30: the company says the accelerated market trend towards standards-based products has caused confusion and hesitation in the market and has delayed purchase decisions, and customers are also requesting delays and cancellations, specifically in government programmes being cut; it is looking to cut its worldwide workforce by 15% to 20%, which is likely to hit the UK, where a lot of work is done; the company also says that its operations are constrained by its debt burden – it was created as a buyout from Perkin-Elmer Corp and then acquired Massachusetts Computer Corp – all of which means that it has had to engage Goldman, Sachs & Co to review its current capital structure.
