NASDAQ Drops on 3COM's Earning Projections...Y2K Blamed : LUSENET : TimeBomb 2000 (Y2000) : One Thread

3Com CFO sees Q3 profit 'comparable' to year-ago

LOS ANGELES, Dec 21 (Reuters) - 3Com Corp. expects third quarter profits to be "comparable" with a year ago as a seasonal downturn and worries about the year 2000 problem take their toll on the network equipment maker, Chief Financial Officer Chris Paisley said on Tuesday.

"Pro forma earnings per share for the third quarter will be comparable to pro forma EPS in the year-ago quarter," Paisley told a conference call.

"We believe any lingering Y2K concerns could cause customers to further delay purchasing."

The Santa Clara, Calif.-based company posted earnings of 24 cents a share in its last fiscal third quarter.

Paisley said absolute earnings, including special items such as sales of investments, were seen "well above" the year ago quarter and perhaps higher than the second quarter's near- record 51 cents a share.

3Com expected third quarter revenues to be flat from the year-ago period and to fall from the second quarter's $1.475 billion.

"Historically, it is our most difficult quarter, seasonally," Paisley said. He gave no specific revenue estimates.

3Com on Tuesday reported second quarter earnings of 37 cents a share, compared with 36 cents a share last year and beating the Wall Street consensus estimate of 34 cents a share.

-- Roland (, December 22, 1999



The NASDAQ is up about 70% for the year. I don't see this announcement as a problem...yet.

Why in the hell are people running up those internet stocks that have no earnings. It's nuts I tell ya..... It's nuts!!! I'll bet 75% of the internet companies disappear.

-- (, December 22, 1999.

We sold our 3Com stock a couple months ago. Sell low, Buy high. That's my motto. Sob. Working my way through the "eye of the needle".

-- Linda (, December 22, 1999.


We bailed out of the market a year ago. Could have made thousands. It's only money and we sleep nights. We have a comfortable life style. What more do you need? Can always get back in the market. For now, not a chance.

-- (, December 22, 1999.

Good points... and good reminded of why we did what we did. Better to get out a little too early than a little too late. I'm not a gambler at heart and sleep better OFF the rollercoaster. Now if gold would just bounce back up. [so I could buy more before it drops again.. just kidding].

-- Linda (, December 22, 1999.

NASDAQ up 8 points.

-- (up@up.up), December 22, 1999.

Bernard Baruch on why he made so much money in the stock market. " I guess I always bought too late and sold too early!"

-- Greg Bittner (, December 22, 1999.

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