3Com Posts Profitable Q2
Marlborough-based networking equipment maker 3Com Corp. made a $20 million profit in its fiscal 2010 second quarter, which ended Nov. 27.
In the same period a year ago, the company made $12.9 million. In the first quarter, its profit was $7.5 million.
Revenue for the quarter was $322.2 million, a 9.1 percent decrease from the $354.6 million it brought in the prior year, but a 10.9 percent increase over the $290.5 million it brought in during the first quarter.
The company generated $118.2 million in cash from operations during the quarter and ended the period with $704.1 million in cash and equivalents.
In November, the company announced that it would be acquired by computer giant HP for $2.7 billion. The deal is subject to a U.S. Securities and Exchange Commission investigation into insider trading and has also prompted several shareholder lawsuits.
To read more about the proposed acquisition, click here.
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