#3Com has posted record results for Q2 1997, with turnover up 46 per cent and profit up 62 per cent on the same period last year.
Sales for the quarter ended 30 November 1996 were $820.3 million, compared with $563.5 million in Q2 1996. Net profit was $105.6 million and included a $6.6 million non-tax deductible charge related to the acquisition of ATM vendor Onstream Networks. Without non-recurring charges, pro forma net profit was $112.2 million, compared with $65.6 million last year.
3Com put its success down to improvements in its industry reputation, as well as increased market share at the edge of the network. It grew its share in segments of the Lan market, including NIC cards, shared Ethernet hubs and Ethernet switches, according to IDC and Dell'Oro studies for the quarter ended September.
Eric Benhamou, 3Com chairman and CEO, said: 'Over the past two years we have made investments in research and development, in strategic acquisitions, in an expanded user salesforce for the enterprise and carrier markets and in volume manufacturing and distribution. This has led to our strengthened position.'
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