Careful cost management helped networking vendor 3Com turn a profit during its fiscal third quarter, despite a year-on-year dip in revenue. For the three months to 27 February, the Massachusetts-based company reported revenue of $324.7m (£224m), a 3.5 per cent decline on the same period last year. Net profit based on generally accepted accounting principles (GAAP) stood at $1.9m, compared a net loss of $7.8m during Q3 last year. Revenue for the first nine months of 3Com's fiscal year stood at just over $1bn, up five per cent on 2008. GAAP net profit was $94.6m, compared to a net loss of $62.1m last year. Chief executive Bob Mao claimed business remained brisk in China and that close attention to its cost base had helped keep his firm on a sound financial footing. "I am very pleased with 3Com’s performance in the quarter, especially given the current economic conditions,” he said. “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.”
channelweb.co.uk @ 2010 Incisive Media
Issue: 328 | June 2014
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.