If you need to do this just once, the simplest way is in the field calculator:
- Open the table, right-click on the heading of the field you want to store your result in, and select "Field Calculator"
- Select "Python" for the parser.
- In the expression window,, enter the expression that Luke gave you above, but replace the string "C000004N_37" with your input field name, surrounded by "!" signs. For my test, the expression looked like this:
int(!RouteID!.split("_")[1])
If you need to do this in a Python script, on the other hand, you'll need to use an Update Cursor to step through the records, read the initial value, parse it using the "split" method, then write the results back to your output field. There are some good examples in the ArcPy help, under "Data Access Module".