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C-COR ANNOUNCES FISCAL YEAR 1994 FIRST QUARTER RESULTS

 STATE COLLEGE, Pa., Oct. 12 /PRNewswire/ -- Richard E. Perry, chairman and chief executive officer of C-COR Electronics, Inc. (NASDAQ: CCBL) today announced the financial results for the first quarter ended Sept. 24, 1993.
 C-COR reported net income of $1,136,000 on sales of $15,719,000. This compares to a net income of $1,026,000 on sales of $13,692,000 for the first quarter of the previous year. Earnings per share for the quarter ended Sept. 24, 1993 were $0.25. This compares to earnings per share of $0.22 for the same quarter of the previous year. C-COR's fiscal year ends on the last Friday in June.
 Commenting on the results, Perry stated, "We are pleased to see continued improvement in revenues and profitability. We are actively bidding on new jobs, and our pre-sale technical services are in heavy demand. We look forward to participating in the dynamic domestic and international cable markets throughout this year. As stated previously, we anticipate record revenues for C-COR in fiscal year 1994."
 C-COR, founded 40 years ago, designs and manufactures high quality electronic equipment used in cable television and data communication systems worldwide. C-COR's headquarters is in State College, Pennsylvania, with production facilities in Tipton and State College, Pennsylvania. 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.
 September 24, September 25,
 Thirteen Weeks Ended 1993 1992
 Net Sales $15,719,000 $13,692,000
 Net Income $ 1,136,000 $ 1,026,000
 Earnings Per Share $ 0.25 $ 0.22
 Weighted Average Number of 4,615,920 4,576,130
 Common Shares Outstanding
 CONSOLIDATED INCOME STATEMENTS
 (unaudited, in thousands of dollars except per share amounts)
 Thirteen Weeks Ended INCREASE
 September 24, September 25, (DECREASE)
 1993 1992 percent
 NET SALES $ 15,719 $ 13,692 15
 Cost of Sales 10,242 8,603 19
 Sales and
 Administrative 2,703 2,440 11
 Research and Product
 Development Costs 1,044 768 36
 Other expenses 151 200 (25)
 14,140 12,011 18
 INCOME FROM OPERATIONS
 BEFORE INCOME TAXES 1,579 1,681
 INCOME TAXES 443 655
 NET INCOME $ 1,136 $ 1,026
 EARNINGS PER SHARE $ 0.25 $ 0.22
 WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES
 OUTSTANDING 4,615,920 4,576,130
 CONSOLIDATED BALANCE SHEETS
 (unaudited, in thousands of dollars)
 September 24, September 25,
 1993 1992
 ASSETS
 CURRENT ASSETS
 Cash and Cash Equivalents $ 1,719 $ 6,314
 Investments at Cost 4,071 151
 Receivables 11,471 8,942
 Inventories 10,587 9,071
 Other 1,606 1,580
 TOTAL CURRENT ASSETS 29,454 26,058
 Property, Plant, and
 Equipment 5,936 5,475
 Intangible Assets and Other
 Long-Term Assets 2,572 2,674
 TOTAL $ 37,962 $ 34,207
 LIABILITIES AND SHAREHOLDERS' EQUITY
 TOTAL CURRENT LIABILITIES $ 6,091 $ 6,406
 LONG-TERM DEBT 488 687
 OTHER LONG-TERM LIABILITIES 656 351
 SHAREHOLDERS' EQUITY 30,727 26,763
 TOTAL $ 37,962 $ 34,207
 /delval/
 -0- 10/12/93
 /CONTACT: Sally O. Thiel, manager, corporate communications, of C-COR, 814-231-4402/
 (CCBL)


CO: C-COR Electronics, Inc. ST: Pennsylvania IN: CPR SU: ERN

CD -- PG004 -- 0926 10/12/93 08:09 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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