Wednesday, July 27, 2005

Sun Earnings Beat Forecasts, but Sales Continue to Slip - New York Times

Sun Earnings Beat Forecasts, but Sales Continue to Slip - New York Times: "Sun Microsystems reported earnings on Tuesday that outpaced Wall Street expectations for the quarter. But the company's revenue continued to fall, indicating that the computer maker has yet to achieve a turnaround.
One of the highest fliers of the dot-com boom, Sun's revenue has collapsed in the last five years and it has been hunting for a path to growth while waiting for a rebound in demand among its biggest corporate customers.
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Moreover, several analysts said that Sun appeared to have made some progress toward ending its financial slide. "There is no question that Sun has been losing mind share at a fairly dramatic rate," said Richard Chu, a financial analyst at SG Cowen Securities. "I found this to be an encouraging quarter.""
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