S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

3Com (COMS) Posts Its Year

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

3Com (COMS) posted numbers for its fiscal year.

Revenue in the quarter was $321.3 million compared to revenue of $310.9 million in the corresponding period in fiscal 2007, a 3 percent increase. For the full year, revenue was $1.29 billion compared to full-year fiscal 2007 revenue of $1.27 billion, an increase of 2 percent

Net loss in the quarter was $166.7 million, or $0.41 per share, compared with a net loss of $66.2 million, or $0.17 per share, in the fourth quarter of fiscal year 2007. In the fourth quarter of fiscal 2008, 3Com recorded a non-cash goodwill impairment charge of $158.0 million.

3Com had tried to sell a minority stake to Huawei Technologies. The U.S. Committee on Foreign Investment in the U.S. said in March it intended to block a planned $2.2 billion buyout of 3Com by Huawei and private-equity firm Bain Capital LLC, based on national-security concerns.

The stock trades at $2.37, down by about 50% from its 52-week high. It is up modestly after hours.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

3Com Mixed Results For Bulls & Bears; Still Hopes For Merger Approval (COMS)

3Com Corp. (NASDAQ: COMS) posted what may be one of its last quarterly financial results for its fiscal second quarter…
Douglas A. McIntyre |

Micron: Half Empty or Half Full (MU)

Micron Technology (NYSE:MU) earnings are out for its quarter-end August 30, 2007: For the fourth quarter of fiscal 2007, the…
Douglas A. McIntyre |

3Com Wins Approval for its Huawei J-V Acquisition (and reports earnings)

3Com (COMS-NASDAQ) announced the receipt of final approval from the People’s Republic of China for 3Com to acquire Huawei Technologies’…
Douglas A. McIntyre |

Yahoo! (YHOO): Bad, But Not Awful

Yahoo!’s (YHOO) reported revenue excluding traffic acquisition costs (“TAC”) was $1,375 million for the fourth quarter of 2008, a 2%…
Has Qualcomm Righted the Ship?
Paul Ausick |

Has Qualcomm Righted the Ship?

Qualcomm turned in quarterly and fiscal year results that beat estimates on both the top and bottom lines. That's music…
Douglas A. McIntyre |

ACN: Did Accenture’s Guidance Increase Fall Short of Analyst Estimates?

By William Trent, CFA of Stock Market Beat Accenture Reports Strong Second-Quarter Fiscal 2007 Financial Results: Financial News – Yahoo!…
Douglas A. McIntyre |

Sun Kills It Rally

Sun Microsystems (SUNW) closed up 2 cents in regular trading at $5.94. Over the last three months, the stock is…
Douglas A. McIntyre |

HRS: Harris Corp Earnings

From William Trent, CFA of Stock Market Beat
Douglas A. McIntyre |

Starbucks Serves Hot Ones

Starbucks (SBUX-NASDAQ): $2.4 Billion revenues and EPS $0.26; estimates were $0.26 & $2.35 Billion. SBUX is up 1.6% at $35.50…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618