Following its 100 per cent indirect shift, and more than 7,000 redundancies, 3Com has announced its first profit since March 2000.
The networking vendor reported a $12.8m profit for its fourth quarter ended 31 May, and its UK division is even on the recruitment trail.
Managing director Paul Malcolm said: "Things are picking up and in the UK we are seeing growth. We are now actively recruiting salespeople to support the channel as well as resellers.
"The role of the channel has been crucial to 3Com's success, and our success is the channel's success because our work with them is paying off."
Mark Davenport, sales director at 3Com reseller Starwand Computers, agreed that the situation is beginning to pick up in the networking arena as a whole.
"It began to pick up in the last quarter, which ended in June, and we are forecasting growth over the next three months," he said.
But a full networking recovery is still some time away, according to Channel Tracker research from Global Touch.
Denise Sangster, chief executive at Global Touch, said in a statement: "The key to the networking recovery is tied to corporate capital spending. When will it resume? We now believe this will not occur until the second half of 2003."
The report said that European resellers are predicting networking equipment sales to hit expectations in the second quarter of 2002, with modest growth in the following quarter.
Some 61 per cent of European resellers believe that networking equipment sales were in line with expectations in the quarter, compared to 55 per cent for overall product sales.
"Earlier this year we were relying on the odd big contract win but now the lower run rate business is picking up," said Davenport.
Malcolm suggested that the increase in the smaller run rate business is a reflection of the economy in recovery, but warned that the larger projects are still few and far between.
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