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3Com Corp (738076) SEC Filing 10-Q Quarterly report for the period ending Friday, August 28, 2009

3Com Corp

CIK: 738076
Exhibit 99.1
(3COM LOGO)
FOR IMMEDIATE RELEASE
For more information contact:
     
Investor Relations
  Media Relations
Gene Skayne
  Beth Cossette
508.323.1080
  781.782.5715
gene_skayne@3com.com
  beth_cossette@lpp.com
3Com Reports Results for First Quarter Fiscal Year 2010
MARLBOROUGH, MASS.—September 24, 2009
—3Com Corporation (Nasdaq: COMS) today reported financial results for its fiscal 2010 first quarter, which ended August 28, 2009. Revenue in the quarter was $290.5 million, compared to revenue of $342.7 million in the corresponding period in fiscal 2009, a 15.2 percent decrease.
     Net income in the quarter was $7.5 million, or $0.02 per diluted share, compared with net income of $79.8 million, or $0.20 per diluted share, in the first quarter of fiscal year 2009. Fiscal year 2009 first quarter results included a $70.0 million favorable patent dispute resolution, representing a benefit of $0.17 per diluted share. On a non-GAAP basis, net income for the first quarter of fiscal year 2010 was $30.6 million, or $0.08 per diluted share, compared with net income of $43.4 million, or $0.11 per diluted share, for the first quarter of fiscal year 2009.
     3Com generated $16.9 million in cash from operations in the quarter. 3Com’s cash and equivalents and short term investments balance at August 28, 2009 was $665.8 million.
     “We are pleased with 3Com’s start to our new fiscal year,” said Bob Mao, 3Com’s Chief Executive Officer. “We had a very good quarter, delivering solid revenue performance, improving gross margin over the prior year, and continuing to generate cash from operations.”
- more -
     Management will host a conference call and Webcast at 8:30 a.m. EDT, Thursday, September 24, 2009, to discuss the company’s financial results and business outlook. To participate on the call, U.S. and international parties may dial (913) 312-1453. Alternatively, interested parties may listen to the live broadcast of the call over the Internet at 3Com’s Investor Relations Web site (www.3com.com/investor) in the Earnings Webcast section.

 


The following information was filed by 3Com Corp on Thursday, September 24, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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3Com Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2009 10-K Annual Report includes:

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SEC Filing Tools
CIK: 738076
Form Type: 10-Q Quarterly Report
Accession Number: 0000950123-09-048661
Submitted to the SEC: Tue Oct 06 2009 4:01:57 PM EST
Accepted by the SEC: Tue Oct 06 2009
Period: Friday, August 28, 2009
Industry: Computer Communications Equipment

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