December 5, 2000 |
3Com Corp. said it expects its fiscal second-quarter results and revenue to be lower than forecast because of delayed sales to telecommunications companies. The announcement sent its shares tumbling as much as 27% in after-hours trading. Santa Clara, Calif.-based 3Com said it expects a loss of between 19 and 23 cents a share for the quarter ended Friday, wider than the 7 to 9 cents a share previously forecast. The company expects sales in the range of $765 million to $780 million.
August 29, 1997 |
Computer networking company 3Com Corp. said in a filing with federal regulators that it expects to incur restructuring charges of up to $375 million as a result of its merger with U.S. Robotics Corp., a maker of computer modems. The Santa Clara company and Skokie, Ill.-based U.S. Robotics completed their multibillion-dollar merger in June. 3Com said the nonrecurring costs will be charged to operations in its fiscal first quarter, which began June 1.
November 6, 1997 |
Santa Clara-based 3Com Corp. introduced its first low-cost consumer videophone, a $449 device designed and built by 8x8 Inc. The Bigpicture videophone works with a television and a touch-tone telephone and uses ordinary analog phone lines. It will compete with the $500 ViaTV unit introduced by Santa Clara-based 8x8 in February and the $650 C-Phone Home sold by Wilmington, N.C.-based C-Phone Corp.
February 24, 1999
3Com Corp. has agreed to buy privately held NBX Corp. of Andover, Mass., for $90 million in cash plus stock options. NBX makes equipment that allows voice and data to be sent over the same computer network. The deal is expected to close in March. 3Com, a Santa Clara, Calif., data communications equipment maker, does not expect to lay off any of NBX's 87 employees, a 3Com spokesman said.
February 25, 2000 |
Shares of 3Com Corp., the No. 2 maker of computer networking equipment, climbed 6.9% on Thursday to a record amid rising enthusiasm for next week's initial public offering of shares in its Palm Inc. unit. 3Com rose $5.38 to $83, surpassing the previous high of $80.13 on Dec. 9, 1996. The stock traded as low as 20 in April 1999. Shares of Santa Clara, Calif.-based 3Com have tripled since it unveiled plans for the Palm IPO and spinoff in September. The company's 1997 acquisition of modem maker U.
December 22, 1999 |
3Com Corp. said its fiscal second-quarter earnings fell slightly and warned that third-quarter profit will be less than expected because customers are delaying purchases over year 2000 concerns, sending its shares down as much as 15% in after-hours trading. The shares had closed up $4.25 at $53.13 on Nasdaq. Separately, 3Com's chief financial officer since 1985, Chris Paisley, 46, said he plans to retire from the company next summer.
June 28, 2000 |
Computer networking-equipment maker 3Com Corp. reported fiscal fourth-quarter results that were in line with analyst expectations, saying its ongoing restructuring is on track to be completed by the end of its first fiscal quarter. Santa Clara, Calif.-based 3Com said it had a loss of $146.8 million, or 42 cents a share, contrasted with year-ago net income of $87.5 million, or 24 cents. Sales fell to $763.7 million from $1.
March 18, 2000 |
3Com Corp. is expected to report Monday that its fiscal third-quarter profit was little changed as falling sales of computer networking equipment canceled out gains from Palm Inc. electronic organizers, analysts said. Profit in the quarter ended Feb. 25 was 25 cents a share, compared with 24 cents a year earlier, according to First Call/Thomson Financial. Analysts expect revenue of $1.4 billion to $1.46 billion at the No. 2 networking company, compared with $1.41 billion a year ago.
September 27, 2000 |
3Com Corp., a maker of computer networking equipment, lost $59.2 million in its fiscal first quarter on marketing and research costs that the company hopes will help it return to profitability. The loss of 17 cents a share contrasts with net income of $137.5 million, or 38 cents a share, in the year-earlier period. Revenue for the quarter ended Sept. 1 fell 23% to $933.8 million. Excluding acquisition costs, a reorganization charge and investment gains, 3Com said its loss was $41.
July 8, 1997 |
3Com Corp., the Santa Clara-based networking company that recently acquired modem maker U.S. Robotics Corp., said it will probably lay off about 800 people in the next year as a result of the merger. 3Com spokeswoman Sara Powers said the company will take charges associated with the layoffs, but the amount has yet to be determined.