3Com Posts Profit, Eyes Expansion

(Updates with stock price)

Networking equipment manufacturer 3Com(COMS Quote) met Wall Street's earnings and revenue estimates in its fourth-quarter results, as the firm side-stepped the worst of the economic downturn.

The Marlborough, Mass.-based firm earned 5 cents a share on net income of $20.2 million, compared with a net loss of 41 cents a share and $166.7 million in the same period last year. However, the prior year's quarter included a $158 million impairment charge related to 3Com's acquisition of security specialist Tipping Point.

3Com posted revenue of $295.1 million during the fourth quarter, down from $321.3 million in the year-ago quarter, but just above analysts' estimate of $294.8 million. ...