3Com Rises After Report - TheStreet

Computer networking gearmaker 3Com (COMS) posted solid numbers late Thursday, sending its shares up in postclose trading.

The Marlborough, Mass., tech shop says it lost $53 million, or 14 cents a share, on sales of $161 million for the fiscal third quarter. Those numbers compare with a year-ago loss of $86 million, or 22 cents a share, on sales of $172 million.

The top-line performance beat the $153 million target analysts were looking for, according to Reuters Research.

Looking ahead, 3Com says it expects sequential sales growth in the mid- to high-single-digit range, with fourth-quarter gross margins of about 35%.

"In summary, there were some very encouraging results this past quarter. But we also recognize that one quarter's performance does not constitute a trend," the company said in a press release Thursday.

3Com shares rose 10 cents to $3.65 in after-hours trading.