Business Services Industry
Telecommunications-equipment maker C-Cor ends fiscal year on high note.
Knight Ridder/Tribune Business News, August, 2004
By Corilyn Shropshire, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Aug. 20--C-Cor Inc. ended its fiscal year on a strong note, posting a fourth-quarter profit on a 23 percent increase in revenue.
The State College-based telecommunications equipment company reported net income of $4.6 million, or 10 cents per diluted share, for the three months ended June 25, vs. a net loss of $13 million a year ago. Fourth-quarter revenue rose to $64.2 million from $52 million in the year-ago period.
For the fiscal year, C-Cor reported earnings of $44.2 million, or $1.10 per diluted share, vs. a loss of $139.6 million in fiscal 2003. Revenue rose 20 percent to $240.9 million from $200.7 million in 2003.
The improved results came...
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