3Com Sees $175M Second-Quarter Gain on Sale of Land - TheStreet

3Com

(COMS)

expects to record a $175 million gain in the second quarter from its sale of undeveloped land in San Jose, Calif., to

Palm

(PALM)

.

3Com finalized the sale of 39 acres of undeveloped land on Sept. 5.

The company also said it expects a loss of $11 million in the second quarter from the sale of its manufacturing and distribution operations in Mount Prospect, Ill., to electronics designer,

Manufacturers' Services

(MSV)

. In that transaction, 3Com received $60 million in cash and 1.5 million Manufacturers' Services common shares.