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3Com Corp (738076) SEC Filing 10-Q Quarterly report for the period ending Friday, February 27, 2009

3Com Corp

CIK: 738076
Exhibit 99.1
(3COM LOGO)
FOR IMMEDIATE RELEASE
For more information contact:
     
     Investor Relations
  Media Relations
     Gene Skayne
  Kevin Flanagan
     508.323.1080
  508.323.1101
     gene_skayne@3com.com
  kevin_flanagan@3com.com
3Com Reports Third-Quarter Results for Fiscal 2009
MARLBOROUGH, MASS.—March 19, 2009
—3Com Corporation (Nasdaq: COMS) today reported financial results for its fiscal 2009 third quarter, which ended February 27, 2009. Revenue in the quarter was $324.7 million, compared to revenue of $336.4 million in the corresponding period in fiscal 2008, a 3.5 percent decrease.
     Net income in the quarter was $1.9 million, or $0.00 per diluted share, compared with a net loss of $7.8 million, or $(0.02) per share, in the third quarter of fiscal year 2008. On a non-GAAP basis, net income was $49.1 million, or $0.13 per diluted share, compared with net income of $34.2 million, or $0.08 per diluted share for the third quarter of fiscal year 2008.
     Revenue for the first nine months of fiscal year 2009 was $1,021.9 million, compared with $973.6 million for the same period in the prior year, a 5.0 percent increase. Year-to-date net income, on a GAAP basis, was $94.6 million, or $0.24 per diluted share, compared with a net loss of $62.1 million, or $(0.16) per diluted share for the first nine months of the prior year. On a non-GAAP basis, net income was $139.4 million, or $0.35 per diluted share, compared with net income of $59.4 million, or $0.15 per diluted share for the first nine months of fiscal year 2008.
     “I am very pleased with 3Com’s performance in the quarter, especially given the current economic conditions,” said Bob Mao, 3Com CEO. “Our China business remained strong in the quarter. Our TippingPoint segment achieved record revenue. The strength in these two segments, combined with stringent cost management allowed us to offset weakness in other geographies and deliver substantially higher year-over-year profit .”
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The following information was filed by 3Com Corp on Thursday, March 19, 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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SEC Filing Tools
CIK: 738076
Form Type: 10-Q Quarterly Report
Accession Number: 0000950135-09-002680
Submitted to the SEC: Wed Apr 08 2009 8:55:04 AM EST
Accepted by the SEC: Wed Apr 08 2009
Period: Friday, February 27, 2009
Industry: Computer Communications Equipment

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