Wednesday, September 23, 2009

3Com Reports Quarterly Revenue of $291 Million, down 15% YoY

3Com reported quarterly revenue of $290.5 million for its fiscal 2010 first quarter, which ended August 28, 2009. This compares 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.

"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.