3Com Reins In Losses in Q2
Despite continued overall slagging sales, 3Com Corp. reined in its losses in the second quarter of its fiscal year, which closed last month.Despite continued overall sagging sales, 3Com Corp. reined in its losses in the second quarter of its fiscal year, which closed last month. In disclosing Q2 earnings today, officials said revenues rose slightly over Q1, operating expenses fell slightly, and net loss fell to $104 million. "Taken altogether, this past quarter demonstrated substantial progress in 3Coms turnaround," said Bruce Claflin, president and CEO.
The Santa Clara, Calif., companys wireless business improved over the last quarter, according to Michael Rescoe, senior vice president and CFO. While overall sales in the Americas were weak because of the economic downturn and the Sept. 11 events, sales in Asia were up, he said.