Jimbo and Thread: Here's something that will be up tomorrow and, hopefully, put a more positive spin on things by supporting the NAS.
K
Tuesday September 21, 5:16 pm Eastern Time
3Com profits top forecasts as company cut costs
3Com stock fell 44 cents to $27.31 on the Nasdaq, well off its 52-week high of $51.13. The company released the results after the close of U.S. trading.
The sales of switches, hubs, remote access concentrators, routers and network management software rose 9 percent to $674.2 million from a year ago, while the sales of network interface cards and modems tumbled 19 percent to $539.0 million from a year-ago.
A bright spot was sales of hand-held computing products, which included the No. 1 personal digital organizer, the Palm. Revenue surged 50 percent to $174.2 million. Santa Clara, Calif.-based 3Com said on Sept. 13 that it plans to sell a stake in its Palm computing division to the public in an initial public offering.
The company's net income included a $23.6 million gain on the sale of investments and a pre-tax credit of $2.1 million related to its acquisition of U.S. Robotics Inc. That was up from net income of $93.7 million, or 26 cents a share, a year ago, which also included one-time items. |
