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C-COR ANNOUNCES 1992 YEAR-END FINANCIAL RESULTS, REVENUES UP 59 PERCENT

 C-COR ANNOUNCES 1992 YEAR-END FINANCIAL RESULTS,
 REVENUES UP 59 PERCENT
 STATE COLLEGE, Pa., Aug. 19 /PRNewswire/ -- C-COR Electronics, Inc. (NASDAQ: CCBL) today announced its financial results for the fiscal year ended June 26, 1992, and for the fourth quarter of fiscal year 1992.
 For the year, C-COR reported net income of $2,280,000 on sales of $52,171,000. This compares to a net loss of $3,452,000 for fiscal year 1991 on sales of $32,732,000. Earnings per share for fiscal year 1992 were $0.50. This compares to a loss per share for fiscal year 1991 of $0.77.
 During the fourth quarter, C-COR recorded net income of $853,000 on sales of $16,584,000. This compares to a net loss of $1,512,000 on sales of $7,272,000 for the fourth quarter of fiscal year 1991. Earnings per share for the fourth quarter of fiscal year 1992 were $0.19. This compares to a loss per share for the fourth quarter of fiscal year 1991 of $.33.
 C-COR chairman, president, and CEO Richard E. Perry commented, "Fiscal year 1992 has been an excellent recovery year. Order rates began to improve early in the year and that trend continued, resulting in a 59 percent increase in revenues. An encouraging sign was the broad based nature of orders, both in types of product and markets. Key installations of digital fiber optic systems, along with delivery of the industry's first 1 GHz amplifiers, were highlights. During the year, the domestic cable television industry improved considerably. In Canada, orders increased significantly, and we were able to open a number of new accounts as well. Opportunities in the Far East developed as we were able to supply large quantities of cable TV equipment to Hong Kong. Looking ahead, we are optimistic about our ability to participate in a growing international market. Domestic and Canadian business looks strong, and we expect considerable business as a result of our agreement with Pan Asian Systems to distribute C-COR products in Asia and the Middle East."
 C-COR, founded nearly 40 years ago, designs and manufactures high quality electronic equipment used in cable television and data communication systems. C-COR's headquarters is in State College, with production facilities in Tipton, Pa., and State College. C-COR Electronics Canada, Inc., a subsidiary of C-COR Electronics, Inc., is located in Ontario, Canada. C-COR/COMLUX, Inc., C-COR's subsidiary manufacturing digital fiber optic products, is located in Fremont, Calif. C-COR Europe B.V., C-COR's European subsidiary, is located in the Netherlands. C-COR's common stock is listed in the NASDAQ National Market System under the symbol CCBL.
 C-COR ELECTRONICS, INC.
 Financial Data
 June 26 June 28
 52 Weeks Ended 1992 1991
 Net Sales $52,171,000 $32,732,000
 Net Income (Loss) $ 2,280,000 ($ 3,452,000)
 Earnings (Loss) Per Share $ 0.50 ($ 0.77)
 Weighted Average Number of
 Common Shares Outstanding 4,555,000 4,461,000
 June 26 June 28
 13 Weeks Ended 1992 1991
 Net Sales $16,584,000 $7,272,000
 Net Income (Loss) $ 853,000 ($1,512,000)
 Earnings (Loss) Per Share $ 0.19 ($ 0.33)
 Weighted Average Number of
 Common Shares Outstanding 4,576,000 4,512,000
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited in thousands of dollars except per share amounts)
 Thirteen Weeks Ended
 INCREASE
 June 26 June 28 (DECREASE)
 1992 1991 percent
 Net Sales $16,584 $ 7,272 128
 Cost of Sales 11,359 6,438 76
 Sales and Administrative 3,110 2,571 21
 Research and Product
 Development Costs 820 801 2
 Foreign Exchange Loss (Gain) 49 11 345
 Interest Expense 16 6 167
 Investment Income (87) (127) (32)
 Other Expenses (Income) 280 256 9
 15,547 9,956 56
 Income (loss) from operations
 before income taxes 1,037 (2,684)
 Income taxes (benefit) 184 (1,172)
 Net income (loss) $ 853 ($1,512)
 Earnings (loss) per share $ 0.19 ($ 0.33)
 Weighted average number of
 common shares outstanding 4,576,000 4,512,000
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (in thousands of dollars except per share amounts)
 Fifty-two Weeks Ended
 INCREASE
 June 26 June 28 (DECREASE)
 1992 1991 percent
 Net sales $52,171 $32,732 59
 Cost of Sales 35,551 25,954 37
 Sales and Administrative 9,837 8,988 9
 Research and Product
 Development Costs 2,760 3,325 (17)
 Foreign Exchange Loss (Gain) 45 (165) (127)
 Interest Expense 63 70 (10)
 Investment Income (183) (285) (36)
 Other Expenses (Income) 683 658 4
 48,756 38,545 27
 Income (loss) from operations
 before income taxes 3,415 ( 5,813)
 Income taxes (benefit) 1,135 ( 2,361)
 Net income (loss) $ 2,280 ($3,452)
 Earnings (loss) per share $ 0.50 ($ 0.77)
 Weighted average number of
 common shares outstanding 4,555,000 4,461,000
 CONSOLIDATED BALANCE SHEETS
 (in thousands of dollars except per share data)
 June 26 June 28
 Assets 1992 1991
 Current assets
 Cash and cash equivalents $ 4,634 $ 2,424
 Accounts receivable less allowance
 of $502 in 1992; $614 in 1991 11,659 4,479
 Inventories 7,791 9,252
 Restricted cash equivalents -- 1,830
 Recoverable income taxes 172 1,646
 Deferred taxes 1,047 1,428
 Other current assets 461 300
 Total current assets 25,764 21,359
 Property, plant, and equipment, net 5,278 5,641
 Intangible assets and other
 long-term assets, net of accumulated
 amortization of $1,160 in 1992 2,873 3,237
 $33,915 $30,237
 Liabilities and Shareholders' Equity
 Current liabilities
 Accounts payable $ 2,233 $ 1,059
 Accrued liabilities 4,407 2,134
 Income taxes 103 616
 Current portion of long-term debt 197 1,976
 Total current liabilities 6,940 5,785
 Long-term debt, less current portion 733 812
 Deferred taxes 195 --
 Other long-term liabilities 319 196
 Shareholders' equity
 Preferred Stock, no par; authorized
 2,000,000 shares; issued, none
 Common Stock, $.10 par; authorized
 8,000,000 shares; issued 1992 -
 4,516,805 shares and 1991 -
 4,512,105 shares 452 451
 Additional paid-in capital 14,153 14,118
 Retained earnings 11,155 8,875
 Translation adjustment ( 32) --
 Total shareholders' equity 25,728 23,444
 $33,915 $30,237
 -0- 8/19/92
 /CONTACT: Sally O. Thiel of C-COR Electronics, 814-238-2461/
 (CCBL) CO: C-COR Electronics, Inc. ST: Pennsylvania IN: CPR TLS SU: ERN


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