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.”
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Issue: 330 | August 2014
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