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

To: uu who wrote (14272)	3/5/1998 4:59:00 PM
From: lin huan chen	Read Replies (1) \| Respond to of 45548

Dow Jones Newswires -- March 5, 1998 3Com Revises FY '97 Results, Lowers FY '98 1Q Chg To $270M SANTA CLARA, Calif. (Dow Jones)--3Com Corp. (COMS) revised fiscal year 1997 results and reduced the merger restructuring charge recorded in the 1998 first quarter to $270 million, from $426 million. The merger restructuring charge and change in accounting stem from the June 1997 merger of 3Com and U.S. Robotics Corp. For fiscal year 1997 ended May 31, 1997, the company revised its net income to $500.5 million, or $1.41 a diluted share, from $597.6 million, or $1.69 a diluted share, as previously reported. In its revisions, the company combined historical results, using the 12 months ended May 1997 for heritage 3Com, added to the period July 1996 through May 1997 for heritage U.S. Robotics, and then adding in March 1997 a second time in order to have a complete 12-month year for U.S. Robotics. This includes U.S. Robotics' April and May 1997 financial results in the recombined fiscal 1997 operating results. Previously, the fiscal 1997 results were accounted for as a pooling of interests. Due to the companies' different fiscal periods, the previously reported combined results included heritage 3Com's May 1997 fiscal year with heritage U.S. Robotics' four fiscal quarters ended March 1997.