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Exhibit 99.1
FOR IMMEDIATE RELEASE
For more information contact:
Investor Relations
|
Media Relations | |
Gene Skayne
|
Anastasia Efstratios | |
508.323.1080
|
781.782.5873 | |
gene_skayne@3com.com
|
anastasia_efstratios@lpp.com |
3Com Reports Results for Third Quarter Fiscal Year 2010
MARLBOROUGH, MASS.—March 30, 2010—3Com Corporation (Nasdaq: COMS) today reported financial
results for its fiscal 2010 third quarter, which ended February 26, 2010. Revenue in the quarter
was $345.9 million, compared to revenue of $324.7 million in the corresponding period in fiscal
year 2009, a 6.5 percent increase.
All regions delivered double-digit revenue growth over the same fiscal year 2009 quarter,
except China. Total revenue in our China based operations was down 1.3 percent from the same prior
year period, primarily the result of a 77.9 percent decline in sales to Huawei, which were $12.4
million in the quarter. China direct sales were $165.9 million in the quarter, a 29.7 percent
increase over the corresponding prior year period.
3Com’s gross margin was 60.4 percent in the third quarter of fiscal year 2010, compared with
gross margin of 57.2 percent in third quarter of fiscal year 2009. On a non-GAAP basis, gross
margin was 60.5 percent in the third quarter, compared with 57.4 percent in the same prior year
period.
3Com’s operating profit margin was 6.5 percent in the quarter, up from 0.5 percent in the
corresponding prior year period. On a non-GAAP basis, operating profit margin was 13.9 percent in
the third quarter, compared with 11.3 percent in the third quarter of the prior year.
Net income in the quarter was $41.4 million, or $0.10 per diluted share, compared with net
income of $1.9 million, or $0.00 per diluted share in the third quarter of the prior fiscal year.
On a non-GAAP basis, third quarter fiscal year 2010 net income was $67.2 million, or $0.16 per
diluted share, compared with net income of $49.1 million, or $0.13 per diluted share, in the
corresponding prior year period.
3Com generated $89.7 million in cash from operations in the quarter. On a year-to-date basis,
3Com generated $224.8 million in cash from operations. 3Com’s cash and equivalents and short term
investments balance at February 26, 2010 was $795.0 million.
The following information was filed by 3Com Corp on Tuesday, March 30, 2010 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.
View differences made from one quarter to another to evaluate 3Com Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by 3Com Corp.
738076 Quarterly Reports
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10-Q Quarterly Report April 2010
- 10-Q Quarterly Report January 2010
- 10-Q Quarterly Report October 2009
- 10-Q Quarterly Report April 2009
- 10-Q Quarterly Report January 2009
