Networking revenue decreased 7.7% to $259m
Network equipment maker 3Com has reported net income of $1.87m for the third quarter 2009, compared to a loss of $7.84m in the year-ago quarter, on revenue down 3.5% at $324.7m.
Operating income was $1.5m, compared to a loss of $6.07m in the same period last year. It generated $100m in cash from operations and reported cash and cash equivalents of $560m by the end of the quarter.
The company said networking revenue decreased 7.7% to $259m, while security revenue rose 43% to $43.5m. Services revenue grew 15.4% to $11.8m, while voice revenue fell 32.3% to $10.2m.
Geographically, revenue from China grew 8.2% to $183.7m, while EMEA revenue fell 29.7% to $52.9m. North America revenue grew 1% to $43.3m, Asia Pacific Rim excluding China revenue fell 11.9% to $23.8m, and Latin and South America revenue decreased 1.9% to $20.8m.
For the first nine months, the company reported net income of $94.5m, compared to a net loss of $62.1m a year ago, on revenue up 5% at $1.02 billion.
Bob Mao, chief executive at 3Com, said: Our China business remained strong in the quarter. Our TippingPoint segment achieved record revenue. The strength in these two segments, combined with stringent cost management, allowed us to offset weakness in other geographies and deliver substantially higher year-over-year profit.