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

To: Dulane U. Ponder who wrote (11148)	12/2/1997 5:28:00 PM
From: Dennis Wang	Respond to of 45548

SANTA CLARA, Calif., Dec 2 (Reuters) - 3Com Corp. (NASDAQ:COMS) said on Tuesday it will take steps to slash the inventory of unsold networking products piling up with distributors and will report second-quarter financial results far below what Wall Street expected. 3Com, the second-biggest maker of computer networking gear, said it likely will report only a "slight" profit for the quarter ended November 30 and revenue between $1.22 billion and $1.24 billion. Wall Street had expected 3Com, based in Santa Clara, Calif., to earn 44 cents a share, according to a recent analyst survey by Zacks Investment Research. 3Com's stock slid rapidly in recent weeks amid concerns about piles of unsold modems made by its U.S. Robotics unit. The company said it is changing its inventory management so that stockpiles of its products are reduced to about half of current levels. The inventory changes also will likely affect results in the fiscal third quarter ending February, but the company did not specify the impact. Copyright 1997, Reuters News Service Companies or Securities discussed in this article: