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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: bgg who wrote (31914)	6/22/1999 5:46:00 PM
From: Zoltan!	Read Replies (2) \| Respond to of 45548

DOWJones reports COMS merely met analyst expectations at $.24 and revenue rose a paltry 3%: Net income for the quarter ended May 28 included a pretax charge of $5.6 million for purchased in-process technology associated with the acquisition of NBX Corp., and a pretax credit of $4.9 million related to changes in previously recorded merger and restructuring expenses. Excluding these items, profit was $88 million, or 24 cents a share. Analysts surveyed by First Call were expecting a profit, excluding charges, of 24 cents a share. Revenue rose 3% to $1.42 billion from $1.38 billion in the year-earlier period. Fourth-quarter sales of systems products increased 17% to $784.7 million and made up a record 55% of total sales, 3Com said. Client-access product sales decreased 10% to $630.9 and comprised 45% of total sales. Revenue for the full fiscal year was $5.8 billion, compared with $5.4 billion in fiscal 1998. Net income was $403.9 million, or $1.09 a share, compared to $30.2 million, or eight cents a share reported in fiscal 1998. interactive.wsj.com The share repurchase is boobbait for the bubbas, most likely an effort to keep the stock from cratering.