I'm sure that others here will be able to give a better explanation of what component oriented languages are (and if they won't, a thorough search on the internet should) but the way I see it the component oriented paradigm can be viewed as an embodiment of object oriented programming.
That is to say that component oriented programming specializes Object Oriented Programming by strictly enforcing and implementing some OO concepts. Basically the whole idea is to create reusable code - in the form of components - that can be interchanged. So, component oriented programming heavily relies on: polymorphism, encapsulation, late binding, inheritance (through interfaces) and most importantly binary re-usability.
A component is a software package that encapsulates data and functionality - much like an object in OOP - but at a higher level.
1.2. Component-Oriented Versus Object-Oriented Programming - Programming .NET Components, 2nd Edition [Book]