News

C-COR.net Reports Sales Drop

10/17/2002 5:07 AM Eastern

Another cable-equipment vendor released a rocky earnings report, with
C-COR.net Corp. reporting first-quarter net sales of $44.6 million, a 14 percent
drop from the previous year's sales of $52 million.

The company reported a $7.3 million net loss in the quarter, almost one-half
of which was attributable to costs associated with its acquisition of Philips
Broadband Networks.

Net loss on a per-share basis was 20 cents in the quarter compared with 17
cents a year ago.

C-COR.net did sound hopeful that fourth-quarter sales would improve,
estimating revenue of between $57 million and $63 million. Revenue and expenses
from the Phillips purchase was effective as of Aug. 26.

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