* Santa Clara-based 3Com Corp. said fiscal third-quarter earnings fell 95% as it cut shipments to distributors to reduce inventory built up by slowing sales of its modems and other networking products. 3Com's profit before a gain in the quarter ended March 1 fell to $7.41 million, or 2 cents a share, from pro forma profit before a gain of $161.2 million, or 45 cents, in the year-earlier period. The company had been expected to earn 13 cents, based on a survey of analysts. 3Com shares rose $2.13 to finish at $37.25 before trading was halted on Nasdaq.
* Carpenteria-based QAD Inc. reported fiscal fourth-quarter net income of $6.2 million, or 21 cents per diluted share, compared with $7.6 million, or 33 cents, a year ago. * Santa Fe Springs-based Vans Inc. reported fiscal third-quarter profit of $2.3 million, or 17 cents per diluted share, compared with $2.2 million, or 16 cents, a year ago.
* Los Angeles-based Kaufman & Broad Home Corp. reported fiscal first-quarter net income of $8.1 million, or 20 cents per diluted share, compared with $4.4 million, or 11 cents, a year ago.