3Com Corporation (NASDAQ: COMS) posted earnings of $0.11 non-GAAP EPS on revenue of $342.6 million.   First Call estimates were $0.06 EPS on $337.12 million in revenue.  While it had already raised guidance in early August, these resuls were above the raised targets.  3Com generated $39.3 million in cash from operations. The company’s cash and cash equivalents as of August 29 were $541.4 million.

Its guidance had been for revenue of $335 million to $340 million ($10 millionhigher than before) with earnings per share of $0.06 to $0.08. 3Com expects to end the quarter with about $530 million in cash.

The company did not offer its guidance ahead of the 5:00 PMEST conference call.  Estimates for next quarterare $0.04 non-GAAP EPS and about $320.7 million in revenue.

Shares closed flat today at at $2.09 and are trading up at $2.17 afterthe close.  Either way, its earnings have zero impact on the maincommunications and routing equipment players such as Cisco, Juniper, and Nortel.

Jon C. Ogg
September 22, 2008