3Com moves to 3Q profit, tops Street

3Com Corp., a Marlborough company that makes computer network equipment, said late Thursday it moved to a profit in its fiscal third quarter, reversing a year-earlier loss and topping Wall Street forecasts.

Attributing the better-than-expected profit to its business in China, its Internet security segment and "stringent" cost controls, 3Com reported earnings of $1.9 million, or break-even on a per share basis.

That compares with a loss of $7.8 million, or 2 cents per share, in the year-earlier quarter.

Excluding one-time times, the company said it earned $49.1 million, or 13 cents per share, beating the average analyst estimate of 10 cents per share, according to a Thomson Reuters poll. Analysts typically exclude one-time losses or gains.

Sales fell below the Street view, however, declining to $324.7 million from $336.4 million. Analysts were looking for $332.3 million.

Shares ticked up 1 cents to $2.80 in after-hours trading.

To read the company's press release, please click here. (AP)