My company

The Marlborough, Mass.-based network
equipment maker announced that its board approved the repurchase of up
to $100 million in common stock. The plan is effective for one year
and the company has about 405.9 million common shares outstanding.

"As a Board, we are fully committed to increasing shareholder value and
we believe this program is a positive step towards that objective,"
said Eric Benhamou, 3Com Chairman. "We made this decision after
reviewing our current cash needs, as well as our current and projected
financial performance, and determined this would be an appropriate use
of a portion of our net cash balance."

On September 22, 2008 the company reported solid first quarter 2009
earnings. Revenue in the quarter jumped 7% from $319.4 million in 2008
to $342.7 million in 2009. Net income came in at $79.8 million, or 20
cents a share, up from a net loss of $18.7 million, or 5 cents a share,
recorded in the same period last year. During the quarter, 3Com
generated $39.3 million in cash, bringing the company’s total cash and
equivalents to $541.4 million.

Bob Mao, 3Com CEO said, “In addition, we delivered our three key
objectives in the quarter: solid year-over-year revenue growth,
improved profit margins, including record gross margins again, and
strong cash generation.”

3Com also recently reported that it named Saar Gillai as the firm's new
senior vice president of worldwide products and solutions. Mr. Gillai
will help 3Com with research and development and sales departments to
increase its product development.

Kaufman Bros. Equity Research, who view the buyback as another positive
step for 3Com commented, “The company has approximately $543 million in
cash and $301 million in debt, for a net cash position of $242 million.
Therefore, 3Com has the financial resources to support the program.”
The buyback could add 4 cents to 2009 EPS.

Kaufman has a hold rating and $3-dollar price target on COMS.

The Marlborough, Mass.-based network
equipment maker announced that its board approved the repurchase of up
to $100 million in common stock. The plan is effective for one year
and the company has about 405.9 million common shares outstanding.

"As a Board, we are fully committed to increasing shareholder value and
we believe this program is a positive step towards that objective,"
said Eric Benhamou, 3Com Chairman. "We made this decision after
reviewing our current cash needs, as well as our current and projected
financial performance, and determined this would be an appropriate use
of a portion of our net cash balance."

On September 22, 2008 the company reported solid first quarter 2009
earnings. Revenue in the quarter jumped 7% from $319.4 million in 2008
to $342.7 million in 2009. Net income came in at $79.8 million, or 20
cents a share, up from a net loss of $18.7 million, or 5 cents a share,
recorded in the same period last year. During the quarter, 3Com
generated $39.3 million in cash, bringing the company’s total cash and
equivalents to $541.4 million.

Bob Mao, 3Com CEO said, “In addition, we delivered our three key
objectives in the quarter: solid year-over-year revenue growth,
improved profit margins, including record gross margins again, and
strong cash generation.”

3Com also recently reported that it named Saar Gillai as the firm's new
senior vice president of worldwide products and solutions. Mr. Gillai
will help 3Com with research and development and sales departments to
increase its product development.

Kaufman Bros. Equity Research, who view the buyback as another positive
step for 3Com commented, “The company has approximately $543 million in
cash and $301 million in debt, for a net cash position of $242 million.
Therefore, 3Com has the financial resources to support the program.”
The buyback could add 4 cents to 2009 EPS.

Kaufman has a hold rating and $3-dollar price target on COMS.

Network equipment maker 3Com Corp. said Wednesday its board has approved a stock buyback plan of up to $100 million.
The plan is effective for one year. As of Sept. 22, the company had about 405.9 million shares outstanding.
The stock trades for 11x cash flow.

0.76

The Real Story Wrap, February 20
Stocks in New York overcame an early data-inspired selloff and rose Wednesday amid a rally in financials and buying in computer-related shares.

Click here to watch the video.

CNBC.........4.86...........0.43%.................10/16/07

i like it

?

Something will happen

Lack of clear identity/vision. Inability to effectively executve and compete/win

loser

long time holding & disappointed in performace. Concerned over future valuation

long time holding & disappointed in performace. Concerned over future valuation

Doesn't seem to be going anywhere after 4 months.

took a beating on this one.. don't like the companys finacials looks like its ran by a bunch of raving glowstick spinning druggies

palm