September 24, 2009
3Com Q1 Earnings Plunge
By Matthew L. Brown
Computer networking equipment maker 3Com Corp. reported a 15 percent revenue decline for its first quarter as its profit plunged from $79.8 million a year ago to $7.5 million.
The Marlborough-based company's fiscal first quarter ended Aug. 28.
In the same quarter a year ago, the company brought in $342.7 million in revenue compared to $290.5 million this year.
The quarter's results included a $70 million patent dispute settlement in 3Com's favor. The company generated $16.9 million in cash from operations and ended the quarter with cash reserves of $665.8 million.
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