Technology

Inventory Charge Sinks C-COR’s 1Q

10/20/2005 6:17 AM Eastern

C-COR Inc. Thursday reported its financial results for its fiscal first quarter ended Sept. 23.

The network-solutions vendor posted net sales of $63.5 million versus $62.1 million in the year-ago period and a net loss of $14.8 million compared with $1 million.

C-COR said the current-quarter figure included a $6.1 million charge for an increase in excess inventory reserves related to its transport-product line, $1.5 million of amortization of intangibles, $1.2 million of stock-compensation expense and restructuring charges of $383,000.

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