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3Com net loss narrows
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December 18, 2001: 6:57 p.m. ET
The network equipment maker's 2Q results surpass expectations.
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NEW YORK (CNN/Money) - 3Com Corp. said Tuesday its second quarter net loss before certain items narrowed from a year earlier, beating analyst expectations, resulting from growing revenue and the effect of earlier cost-cutting measures.
The network equipment maker's net loss before certain items slowed to $47 million, or 14 cents per share, from $51.1 million, or 15 cents a share for the same period last year.
The second quarter analysts' estimate was a loss of 22 cents per share, according to tracking firm First Call.
"Q2 was a quarter of great progress for 3Com (COMS: up $0.27 to $5.31, Research, Estimates) ," said Bruce Claflin, 3Com president and chief executive officer. "Our second quarter results confirm we are on or ahead of plan in virtually every part of our turnaround."
Revenue for the quarter was $394 million, a jump from revenues of $390 million in the first fiscal quarter.
The company also reported gross margins of $133 million and operating expenses of $187 million, before certain items.
--from staff and wire reports 
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