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3Com Sounds a Warning on Losses

March 01, 2001|Bloomberg News

3Com Corp., maker of computer networking equipment, said its fiscal third-quarter loss will be much wider than forecast on weaker-than-expected sales. The surprise announcement sent 3Com's shares down 14% to $7.22 in active after-hours trading. The shares had closed up 13 cents at $9.13 on Nasdaq. Shares of other network equipment makers also fell. Santa Clara, Calif.-based 3Com said its operating loss for the quarter ending Friday will be $235 million to $245 million, excluding reorganization and other costs, wider than an earlier estimate of $80 million to $100 million, the company said. 3Com said it now expects revenue of $625 million to $640 million in the quarter, down from a December forecast of $725 million to $750 million. The company plans to report its results March 21.

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