News

C-COR.net Lights Up Lantern

4/15/2004 3:36 AM Eastern

C-COR.net Corp. will acquire all of Lantern Communications Inc.’s assets under a deal announced Thursday.

Lantern is a vendor of metropolitan-area-network packet-based transport solutions.

The deal is expected to close sometime in the fourth quarter. Terms were undisclosed. Upon its completion, Lantern will become part of C-COR.net’s broadband-communications-products division.

C-COR.net also issued some preliminary fiscal numbers. For the quarter ending June 25, the company anticipates net sales of between $59 million-$61 million and diluted earnings per share of between $0.07-$0.10.

The company said this guidance reflects an expected shift in revenue mix, including lower software revenue than in the previous quarter, integration costs related to the Lantern acquisition and the effect of increased shares outstanding from the common-stock offering completed in the previous quarter.

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