Tax liability provision adds to network equipment vendor's woes
Computing, 26 Mar 2008
Network and telecommunications equipment vendor 3Com has reported a net loss of $7.8m (£3.9m) for the third quarter ending February 2008, $3m (£1.5m) more than the $4.8m (£1.2m) loss it reported a year ago.
Revenue for the quarter increased four per cent to $336.4m (£168m).
The company cited a $6.1m (£3m) non-cash deferred tax liability provision as the prime reason for the increased loss.
3Com's proposed $2.2bn (£1.1bn) acquisition by Bain Capital Partners and Chinese networking and telecommunications equipment giant Huawei appears to have collapsed amidst ongoing arguments about shared technology.
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