By Felicity Ussher, 26 June 1998 14:43
NEWS 3Com has announced quarterly profits of $63.6m (£39.8m), or 17 cents a share, as predicted by Wall Street. Total sales for the quarter were $1.38bn (£0.86bn), a ten per cent increase on last year. The earnings include a charge taken for the purchase of Lanworks Technology, a developer of network booting technologies. Without the $8.4m (£5.3m) charge, which writes off the cost of duplicate technology, 3Com's earnings would be 18 cents a share, higher than estimates from First Call, a Wall Street analyst. 3Com's board of directors this week authorised the repurchase of up to ten million shares of the company's common stock. Also this week, 3Com announced a WAN strategy that divides the company's routers and switchers into two divisions: ATM/Frame Relay networks and IP-based Virtual Private Networks.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below