3Com reports Q4

3Com Corporation reports its fourth quarter highlights

June 28, 2006

2 Min Read

MALBOROUGH, Mass. -- 3Com Corporation (NASDAQ: COMS):

Fourth Quarter Highlights

-- GAAP loss per share was $0.04 in the fourth quarter, improved from a $0.15 loss per share in the prior-year quarter; and

-- GAAP revenue for the fourth quarter was $255 million, a 44 percent increase over the prior-year quarter; Pro forma consolidated revenue for the fourth quarter of fiscal 2006 (assuming consolidation of the Huawei-3Com joint venture from the beginning of the period) was $304 million, a 22 percent increase over the prior-year quarter.

3Com Corporation (NASDAQ: COMS) today reported financial results for its fourth quarter and fiscal year-ended June 2, 2006. Starting with this reporting period 3Com is consolidating the results of its Huawei-3Com joint venture (H-3C) effective from the date that it became a majority-owned subsidiary. Specifically, 3Com's results for the fourth quarter consolidate H-3C's performance for the period of February 1, 2006 through March 31, 2006; the January 2006 results of H-3C were reported on the equity method consistent with prior period reporting(1). This period 3Com is also beginning to report segment results for two operating segments, Secure, Converged Networking (SCN) and H-3C.

Overall 3Com Results

Revenue - Generally Accepted Accounting Principles (GAAP) basis

Revenue for the fourth quarter of fiscal 2006 was $255 million, a 44 percent increase compared to same period in fiscal 2005. The growth is comprised of the consolidation of two months of H-3C revenue offset, in part, by a 6 percent decline in revenues from the SCN segment.

Full year fiscal 2006 revenue was $795 million, a 22 percent increase compared to fiscal 2005. The growth is comprised of the consolidation of two months of H-3C revenue and growth in the SCN segment, primarily in security products.

3Com Corp. (Nasdaq: COMS)

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