Late on Thursday, 3Com Corp. (NASDAQ: COMS) announced that it swung to a fiscal third quarter profit of  $1.9 million, or less than 1 cent a share, compared to a net loss of $7.8 million or 2 cents a share, in the prior year period. Quarterly revenue slipped 3.5% to $324.7 million from $336.4 million. Consensus estimates were for earnings of 10 cents a share on revenue of $332.31 million. CEO Bob Mao stated "Our China business remained strong in the quarter. Our TippingPoint segment achieved record revenue. The strength in these two segments, combined with stringent cost management, allowed us to offset weakness in other geographies and deliver substantially higher year-over-year profit."

Blockbuster Inc. (NYSE: BBI) swung to a fourth-quarter loss of $362.7 million, or $1.89 a share, compared to a profit of $38.1 million, or 20 cents a share, in the same quarter last year. On an adjusted basis, the company earned $80.4 million, or 40 cents a share. Revenue declined to $1.38 billion from $1.57 billion. Analysts on average were looking for earnings of 25 cents a share on revenue of $1.54. The company said that in the opinion of an independent accounting firm, "substantial doubt exists with respect to the company's ability to continue as a going concern.” However, CEO Jim Keyes added "Given the tightness of the credit markets these days, we are not going to be alone."

Palm Inc. (NASDAQ: PALM) reported a fiscal third quarter loss of $98 million, or 89 cents a share, compared to loss of $57 million, or 53 cents a share, in the year ago quarter. Revenue plunged 71% to $90.6 million. Analysts on average expected a loss of 59 cents a share on revenue of $105 million. CEO Ed Colligan commented "We're proceeding through a challenging transitional period; however our current results shouldn't overshadow the tremendous progress we've made against our strategic goals. We’re poised to usher in a new era at Palm." Shares of Palm plunged over 5% in extended trading.

Cost Plus (NASDAQ: CPWM) said that its fourth quarter loss widened to $18.27 million, or 83 cents a share, from $12.46 million, or 56 cents a share, in the year-earlier quarter. Revenue fell 3.9% to $354.83 million from $369.35 million. Analysts on average had projected earnings of 24 cents a share on revenue of $346.59 million. CEO Barry Feld said in a statement "Our results reflect the severe economic stress that affected nearly all companies in 2008 as consumers dramatically pulled back their spending."

Select Comfort Corp. (NASDAQ: SCSS) slipped to a fourth quarter loss of $57.44 million or $1.30 a share, compared to a net income of $2.17 million, or 5 cents a share, in the comparable quarter last year. On an adjusted basis, the company reported a net loss of $11.4 million or 26 cents a share for the latest quarter. Revenue decreased to $131.07 million from $190.70 million. Analysts' estimates were for a loss of 3 cents a share on revenue of $139.20 million. President and CEO Bill McLaughlin stated "2008 was a difficult year for the entire bedding industry, including Select Comfort. Economic conditions deteriorated steadily as the year progressed, and consumer sentiment weakened further in the fourth quarter." Shares of the company surged 26.67$ in evening trade.

Ticketmaster Entertainment Inc. (NASDAQ: TKTM) swung to a fourth quarter net loss $1.071 billion, or $18.82 a share, compared to net income of $51.1 million or 91 cents a share, in the corresponding quarter last year. On an adjusted basis, the company's earnings declined to $9.9 million or 16 cents a share from $51.1 million or 91 cents a share in the same period last year. Revenues climbed 9.4% to $384.0 million from $351.0 million. Analysts on average had forecast earnings of 29 cents a share on revenues of $378.31 million. Chief Executive Officer Irving Azoff said "While I'm pleased that in the midst of an evolving music industry and a challenged consumer environment we were able to show substantial growth in free cash flow, we won't be satisfied until we transform the Company into the world's most innovative live entertainment services, marketing and distribution organization, working harder on behalf of fans and the artists, athletes and performers."

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