Friday, December 17, 2004
3Com Corp. posted a wider-than-expected second-quarter loss of $49 million, or 13 cents a share, in the second quarter compared with a net loss of $139 million, or 37 cents a share, in the year-ago period.
Revenue fell 17 percent to $151.1 million. 3Com said much of the decline was attributable to weakness in North America, where competitive pressure forced it to lower prices on some switching products.
3Com Chief Executive Bruce Claflin said that unit growth in those products is moderating, as they have become less differentiated.
3Com also said it was squeezed by transition costs due to a new service relationship with Siemens Business Services, as well as lower sales volume.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
