3COM Seemed Good, But... (COMS)
3Com Corp. (NASDAQ:COMS) posted a net loss of $18.7 million, or -$0.05 EPS, but on a non-GAAP basis outside of restructuring costs it made $12.2 million, or $0.03 EPS. Analysts were expectingg $0.02. Revenue rose to $319.4 million, above the $300.1 million a year ago and slightly above analyst estimates of $318.3 million.
Shares closed up almost 4% today at $3.74. We didn’t get to listen to this conference call, but shares are giving back the gains in after-hours with shares down close to 5% at $3.57. The 52-week trading range is $3.24 to $5.24. Since we didn’t get to hear what the sell-of was about we won’t speculate as this is a small company now. But here are some points investors should consider:
- This is one we have noted as a company that management can’t fix.
- Barron’s questioned it after a Citadel investment.
If we get a chance, we’ll look further into this one later.
Jon C. Ogg
September 20, 2007