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Strategies & Market Trends : Sharck Soup

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To: DebtBomb who wrote (26583)	6/7/2001 4:07:42 PM
From: cthd	Read Replies (3) of 37746

3Com slashes sales forecast (COMS) By Mike Tarsala 3Com (COMS) issued a revenue warning for its fiscal-fourth quarter, ended June 1, blaming high inventories and restructuring costs. The networking-gear company said sales will be in a range of $450 million to $475 million. Analysts had expected sales of $575 million, according to First Call/Thomson Financial. Cash and equivalents are expected to be between $1.5 biillion and $1.6 billion. 3Com's fourth-quarter results will be announced on June 26. The company also said that it's getting out of the high-speed modems business. Prior to the announcement, 3Com shares rose 16 cents to close at $5.66 in Thursday trading.

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