3Com Reports First Quarter Fiscal 2000 Results; Pro Forma
Net Income Increases 38% From Year-Ago Quarter
SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 21, 1999--3Com Corporation
(Nasdaq:COMS) today reported financial results for its first fiscal
quarter ended August 27.
Net income of $137.5 million ($0.38 per share), on sales of $1.387
billion, included a $23.6 million gain from the sales of investments
and a net pre-tax credit of $2.1 million related to the merger with
U.S. Robotics, Inc. (USR). These results compare to net income in the
first quarter of fiscal 1999 of $93.7 million (or $0.26 per share),
on sales of $1.406 billion, which included a net pre-tax credit of
$10.2 million related to the merger with USR. Excluding the
aforementioned items, pro forma net income in the first quarter of
$119.3 million, or $0.33 per share, increased 38 percent from pro
forma net income of $86.7 million, or $0.24 per share, reported in
the first quarter of fiscal 1999.
mktnews.nasdaq.com\www\nasdaq\news\bw\1999\09\21\BU204900AT109.html&usymbol=COMS&logo=True&companyname=3Com+Corporation
o~~~ O |
