C-COR Provides Business Update; Anticipates Meeting First Call Earnings Estimate.STATE COLLEGE, Pa. -- C-COR Incorporated (Nasdaq:CCBL CCBL Crescent Commercial Bank Limited (Pakistan) CCBL Cambodia Campaign to Ban Landmines CCBL Configuration Control Baseline CCBL CPEDB Configuration Baseline Listing CCBL Chinese Christian Basketball League ), a global provider of interoperable solutions that simplify the transition to on demand networks, is providing updated financial guidance for its third quarter of fiscal year 2006 that ended on March 24, 2006. This update is being given in light of scheduled meetings with investors, analysts, and C-COR executives at The NCTA NCTA National Cable & Telecommunications Association (fka National Cable Television Association) NCTA National Cable Television Association (now the National Cable & Telecommunications Association) National Show in Atlanta, Georgia (April 9-11, 2006). Based on a review of preliminary, unaudited financial results for the third quarter of fiscal year 2006, C-COR anticipates the Company will report net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of between $60 and $61 million and earnings that are in line with the First Call consensus estimate of a non-GAAP loss of $.10 per share. The Company also expects to report a positive book-to-bill ratio Book-to-Bill Ratio The technology industry's demand-to-supply ratio for orders on a "firm's book" to number of orders filled. Notes: This ratio tells whether the company has more orders than it can deliver (if greater than 1), has the same amount of orders that it can . For the fourth quarter of fiscal year 2006, the Company anticipates that its financial results will be in line with the current First Call consensus forecasts of $69 million in net sales and a non-GAAP loss of $.03 per share. The non-GAAP First Call earnings estimates exclude certain items such as restructuring and asset impairment charges, amortization of intangible assets, stock compensation expense, and gains or losses on sales of assets. The Company is not providing corresponding GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). measures to the forward looking non-GAAP measures provided by First Call because the Company has not yet finalized the accounting for restructuring, asset impairment, and asset dispositions that will affect reported GAAP results for the third quarter of fiscal 2006 and projected results for the fourth quarter of fiscal 2006. C-COR will issue a press release with detailed third quarter fiscal year 2006 results on Thursday, April 20, 2006, before the opening of the market. About C-COR C-COR offers world-class, market-focused business solutions for cable operators, telephone companies, broadcasters, and other private and public sector entities that put subscribers in personal control of their entertainment, information, and communication needs. The Company's solutions simplify the transition to Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) demand-oriented networks by delivering interoperable, modular products in sync with IP network upgrade cycles. These solutions bring together On Demand and OSS Oss (ôs), city (1994 pop. 62,141), North Brabant prov., S Netherlands; chartered 1399. It is a significant industrial center. Manufactures include meat products, chemicals, pharmaceuticals, electrical equipment, and metalware. applications, broadband access technology, and a nationwide corps of expert field engineers to enable the delivery of business services; digital program/ad insertion; management and delivery of VOD See video-on-demand. VoD - video on demand , VoIP, and HSD HSD Human Services Department HSD High Speed Data HSD Hillsboro School District (Hillsboro, OR) HSD Hybrid Synergy Drive (Toyota/Lexus) HSD High School Diploma HSD Historical Society of Delaware ; network capacity expansion; centralized office automation for workforce management, network assurance, and subscriber fulfillment; and a variety of outsourced field services that help keep networks operating at peak performance. C-COR's common stock is listed on the Nasdaq National Market (Symbol: CCBL) and is a component of the Russell 2000 Stock Index. For additional information regarding C-COR, visit www.c-cor.com. Some of the information presented in this announcement constitutes forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements represent the Company's judgment regarding future events, and are based on currently available information. Although the Company believes it has a reasonable basis for these forward-looking statements, the Company cannot guarantee their accuracy and actual results may differ materially from those the Company anticipated due to a number of known and unknown uncertainties. Factors which could cause actual results to differ from expectations include, among others, capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. patterns of the communications industry, changes in regard to significant customers, the demand for network integrity, the trend toward more fiber in the network, the Company's ability to develop new and enhanced products, the Company's ability to provide complete network solutions, continued industry consolidation, the development of competing technology, the global demand for the Company's products and services, the Company's ability to implement its restructuring and cost reduction measures, and the Company's ability to complete and integrate acquisitions and achieve its strategic objectives. For additional information concerning these and other important factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Securities and Exchange Commission. |
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