Technology

Strong 3Q for C-COR.net

4/22/2004 3:42 AM Eastern

C-COR.net Corp. reported net income for its fiscal third quarter ended March 26 of $5 million, or 12 cents per share, versus a net loss of $114.6 million ($3.15) in the year-earlier quarter.

The current-year results reflect the sale of approximately $743,000 of inventory that was previously fully reserved.

Net sales for the quarter were $58.4 million compared with $50.1 million for the same period last year, an increase of 17%.

For its fiscal fourth quarter, the broadband-communications-products vendor expects net sales of $59 million-$61 million with earnings per diluted share of $0.07-$0.10.

March