MARLBOROUGH — Networking systems maker 3Com Corp. said that its fiscal third-quarter profit jumped on growing sales in most regions and a sharp drop in its income tax provision.
The Marlborough company earned $41.4 million, or 10 cents per share. That compares with net income of $1.9 million, or less than a penny per share, in the same quarter of the previous year.
Revenue rose 7 percent to $345.9 million, as the company said it saw double-digit growth in all of its regions except China, which fell slightly.
3Com said its adjusted profit was 16 cents per share excluding special items. Analysts polled by Thomson Reuters expected earnings of 8 cents per share on $325.9 million in revenue.
Operating expenses rose 1 percent to $186.4 million, but that was offset by the revenue increase and a 1 percent drop in the company’s cost of sales to $137.1 million.
3Com also reported a smaller income tax provision of $1.3 million, compared with a $12.8 million provision a year ago. The company also recorded $683,000 in interest income, compared with a $3.3 million investment loss in the year-ago quarter.