3Com reports increased losses

3Com, has announced losses for the first quarter.

The company recently announced the closure of its manufacturing facility in Blanchardstown with the loss of 600 jobs.

3Com makes computer networking equipment. The company plans to outsource its manufacturing operations.

For the quarter, ended August 29, the company reported a net loss of $106m (€94m), compared with a net loss of $ 97.6m (€86.5m) last year.

Revenue fell 40% from $ 269.2m (€238.7m) to $ 161.9m (€143.5m), though this was partly the result of 3Com having sold off one of its units.

There was also a drop in sales of desktop, mobile and server connectivity products.

CEO of 3Com Bruce Claflin said that the company was seeing some turnaround in the industry.