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March 21, 1997updated 05 Sep 2016 12:57pm

3COM Q3 EARNINGS ARE RIGHT ON TARGET

By CBR Staff Writer

3Com Corp – currently in the process of buying US Robotics Corp – reported solid third quarter numbers in line with analysts’ expectations. Net earnings were up 17.5% at $87.6m, on revenue up 29.8% at $786.8m. Earnings per share for the quarter increased 11.9% to $0.47, ever so slightly better than the $0.46 that analysts expected. Sales of systems products, including switches, hubs, internetworking and remote access products, grew by 24% to $432.6, and sales of network adapters shot up 39% to $346.3m. For the first nine months of fiscal 1997, net income is up 91.2% at $284.8m on revenue up 39% at $2.32bn. Earnings per share for the first three quarters rose 82% to $1.53. Net income for the first nine months of 1996 included a of $69m associated with the acquisition of Chipcom Corp.

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