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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Dwight E. Karlsen who wrote (13423)	3/6/1998 7:20:00 AM
From: Moonray	Respond to of 22053

More: 3Com Adjusts 1997 Earnings 05:44 a.m. Mar 06, 1998 Eastern SANTA CLARA, Calif. (Reuters) - 3Com Corp. said Thursday it adjusted its financial results for 1997, following a review by federal authorities, to better reflect its 1997 acquisition of modem maker U.S. Robotics Corp. 3Com, the second-biggest maker of computer networking equipment, also said the charge it had to take against earnings to cover the cost of the acquisition was substantially less than what it had estimated when the merger was completed, in June 1997. Following the revision, the Santa Clara, Calif., company said it had net income of $500.5 million, or $1.31 a share on a diluted basis, on revenue of $5.606 billion for the fiscal year ended May 31, 1997. Previously, 3Com had reported net income of $597.6 million, or $1.69 a share on a diluted basis, on revenue of $5.604 billion. 3Com also said the charge against earnings for the acquisition was $270 million, down from the $426 million it had anticipated. 3Com made the adjustments in response to a review by the Securities and Exchange Commission, the company said. Dwight, it would appear to me that all your thoughts regarding 3COM's creative accounting have been validated. o~~~ O