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Adelphia Crisis hits Vendors
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May 20, 2002 -- cover
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    News Section Header
    May 29, 2002
    Adelphia Crisis hits Vendors
    Shades of telecom: A failing operator sends shock waves through the equipment-vendor community.


    A cable vendor says its expects revenue shortfalls due to deep troubles at customer Adelphia Communications.

    C-COR.Net a medium sized maker of RF , fiber-optic and headend equipment said it will probably not see roughly $42 million in expected payments from Adelphia.

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    The cable company has been lurching towards bankruptcy due to crushing debts and accusations of irregularities by executives.

    The vendor said that it was obligated by SEC to disclose the shortfall. It also revised its financial guidance to investors.

    The company described the situation with Adelphia as fluid. “But our assessment is that we not going to see how much of this revenue,” said a spokesperson for C-COR, JoAnn Lehtihet. “We have to bite the bullet, announce the situation and deal with it.”

    C-COR’s troubles raise the possibility that other cable vendors will face similar revenue problems. The cable industry is dominated by a handful of suppliers who service a similarly small number of operators.

    The expectation is that companies like Scientific Atlanta and Motorola will face similar revenue pressures as well.

    Neither company returned a call seeking comment.

    C-COR had sales of $62.2 million last quarter.

         


     
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