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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Helios who wrote (23874)	3/23/1999 9:14:00 PM
From: Jeffrey D	Respond to of 77397

3COm reports earnings. Jeff PALO ALTO, Calif., March 23 (Reuters) - 3Com Corp. on Tuesday reported profits in line with diminished expectations after the No. 2 maker of computer networking equipment warned earlier this month that sales were slowing. The Santa Clara, Calif.-based company said net income in its fiscal third quarter ended Feb. 26 rose to $89.7 million, or 24 cents a share, from $13.9 million, or 4 cents, in the comparable year-earlier period. The results were in line with analyst forecasts of 24 cents a share, according to First Call Corp. Revenue rose 13 percent to $1.41 billion from $1.24 billion. 3Com also said it would buy back as many as 10 million, or 2.7 percent, of its shares outstanding, lifting the number of shares in the buyback plan to 12 million. On March 2, 3Com warned of an earnings and revenue shortfall because of lower-than-expected sales of personal computer-related networking equipment to its large corporate customers. Pricing pressure, 3Com executives said, has also rippled across nearly all of its businesses. ''The issue for us this quarter is it's not that we had a bad quarter, it just wasn't as good as we and the analysts were expecting,'' Bruce Claflin, 3Com chief operating officer, said in an interview. The company also told analysts on a conference call to expect fourth-quarter results to be higher than the third quarter's, which is traditionally the case. ''But we expect sequential sales growth will be modest this year,'' said Chris Paisley, 3Com's chief financial officer. Earlier, 3Com stock declined 63 cents to $23.63 on the Nasdaq, well off its year-high of $51.13. The company reported results after the close of regular trading. In trading after the close, 3Com rose slightly, reaching as high as $24.25. Before the earnings warning, 3Com had been expected to earn 36 cents a share, according to First Call, which tracks analysts' estimates. 3Com's difficulties reflect those affecting PC makers at large. Both Compaq Computer Corp. and Dell Computer Corp. in their most recent quarters reported revenue growth that lagged what most investors were expecting. Hewlett-Packard Co.'s PC results have also fallen short of some analyst forecasts. Indeed, when the PC industry slows, so does 3Com. Its modems and connector cards account for about half of the company's revenues. ''There was just a slowdown in unit volume and during the last few weeks, other companies in related industries have suggested there is a slowdown in the (corporate) PC market,'' Claflin said. Sales of the company's Palm handheld computing device were again brisk in the quarter, though down from the busy holiday season. 3Com has now shipped 3 million of the devices. Year-ago results were hampered by efforts to digest its acquisition of U.S. Robotics in June 1997 and as the company slowed shipments of its modems to clear up an inventory glut. 3Com executives also said the company planned to shift workers and expenditures from slower, more mature businesses to those that are higher growth, such as broadened uses for its Palm unit and for cable modems and set-top boxes. ''We don't think the right action for the company to take is to shrink,'' Claflin said. ''We are in a growth industry and we must grow.">>

To: Helios who wrote (23874)	3/24/1999 1:03:00 AM
From: jach	Read Replies (2) \| Respond to of 77397

<his incredible record of insipid and failed predictions> very wrong, another great prediction below: csco did drop below 100! Message 8443070 and another big big one, who follows jach made more than 50% in ten days: Message 8301654 There were many others great ones before. These are just recent ones. Records speak for themselves, not someone like yourself basically just doing hypo-huma-helio-ventilation using plain foolish talk. It's also known as the HHHv syndrome. Sad.