Over the past few years we have made solid progress in the execution of our strategy.
(To) reignite growth, we have structured our operations into three independent businesses that leverage our core strengths while providing customers with the products they want and need.
The joint efforts of the two technology leaders will result in new solutions for customers to access networked information in new and creative ways, ... By sharing patents, 3Com and IBM have greater freedom to develop exciting new products and compete in new information technology market segments.
Business conditions worsened in 3Com's fourth quarter, ... However, 3Com is taking the steps necessary to achieve future profitability in this unfavorable climate.
3Com has not been immune to the trends affecting the telecom sector, ... However, we believe this sector has substantial long-term growth opportunities and we are investing accordingly. In addition, our Commercial and Consumer Networks business posted a second consecutive quarter of sequential sales growth.
The abruptness and severity of the current technology slowdown has clearly impacted 3Com, ... 3Com is taking immediate steps to reduce costs and achieve profitability.
Our cost efforts are more important than ever, given the softness we have seen in demand, both in past quarters as well as the current quarter, ... Despite this slowdown, it is our intention to return to profitability as quickly as possible while positioning the company for profitable growth.
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