3Com Yields Another Rabbit (COMS)
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…
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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
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