Sonny, Two great news pieces after the bell. first AOL and then 3com.
Tuesday December 22, 7:40 pm Eastern Time
3Com quarterly profits top analyst
expectations
(Adds additional analyst, executive comments and details in 12th
to 16th paragraphs.)
By Duncan Martell
PALO ALTO, Calif., Dec 22 (Reuters) - Quarterly profits posted by 3Com Corp., the No. 2
computer networking maker, sailed past Wall Street forecasts on the strength of brisk worldwide
sales of new products, particularly in Western Europe.
The company on Tuesday said profit before a charge for the second quarter ended Nov. 27 rose to
$133.4 million, or 36 cents a share, from profits of $86.7 million, or 24 cents, in the year-ago
period. Revenue surged 29 percent to $1.54 billion from $1.19 billion in the year-ago period.
Buoyed by new products, the largest maker of computer modems and of the Palm handheld
organizer also surged past the so-called whisper number -- circulated among traders -- of 33 cents to
34 cents a share. The consensus estimate in a First Call Corp. survey of analysts was for earnings of
31 cents a share.
''This was just a stellar quarter,'' said Michael Cristinziano, an analyst at Gerard Klauer Mattison in
New York, who rates shares of 3Com as a ''buy.'' ''The stock should react positively.''
Hope that the techs rally tomorrow. Intel is really competing with AMD but the lower prices should be good for the PC makers
Laster
Frank |
