MORE ON TECH : 3Com Reports 38% Rise in Profit for Quarter

3Com Corp. said its profit rose 38% in its fiscal first quarter to $119.3 million, or 33 cents a share, well above the 24-cents-a-share average estimate of analysts polled by First Call Corp. Revenue fell 1.3% to $1.39 billion. Sales of 3Com’s Palm organizer climbed 50% to $174.2 million and now make up 13% of revenue. Sales of systems that link computers in corporations rose 9%. Sales of 3Com’s older products, which include phone-based modems and computer-connection cards, dropped 19% to $539 million. Shares of Santa Clara, Calif.-based 3Com fell 44 cents to $27.31 before trading was halted for the release.