Improved 2Q for C-COR.net

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C-COR.net Corp. posted net income of $29.7 million, or 78 cents per share, in its fiscal second quarter ended Dec. 26, versus a net loss of $4.7 million (13 cents) for the same period last year.

Net sales rose 14% to $61.5 million from $54 million in the year-earlier period.

The current-year second-quarter results included $21.1 million received on the sale of the company’s trade claims against Adelphia Communications Corp. and affiliates that were previously written off, along with the collection of approximately $1.6 million in delinquent accounts receivable that had previously been fully reserved.

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