The loss in the year ago period was US$147 million, or US$0.45 a share.
The company registered sales of US$468 million, within the range of US$450 million to US$475 million forecast earlier this month when it warned that it would not be able to meet its original estimate of US$575 million. The new figure represents a drop of almost US$300 million from its US$764 million in Q4 of fiscal 2000.
"Our industry and company are undergoing fundamental changes," The Associated Press reported 3Com president and CEO Bruce Claflin as saying. "They are traumatic, painful and necessary."
3Com chief financial officer Mike Rescoe predicted the current quarter results to be in the same range as the fourth, but he felt that the next quarter might get better. Claflin said that the company, which has been restructuring, was looking forward to profitability in Q4 of 2002, if demand held steady. Fiscal 2002 began this month.
Since February, 3Com has cut about 40 percent of its staff, to reduce costs.
Claflin said that the layoffs and restructuring were now over. "The heavy lifting is behind us. The product line is stable, and we don't anticipate any more changes."
3Com closed down US$0.19 at US$4.84 yesterday. The Nasdaq-listed counter reached a 52-week high of US$21.17 in October 2000.
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