Friday, May 02, 2008

Sun Microsystems Posts Loss and Plans to Reduce Jobs - New York Times

Not that this matters much in the grand scheme of things, since the companies are in very different markets, but FYI Sun's most recent quarterly revenues were ~50% of Apple's.

“Relative to expectations, this is a huge disappointment,” said A. M. Sacconaghi, an analyst with Sanford C. Bernstein.

Sun shares fell more than 14 percent in after-hours trading Thursday, after closing up 67 cents, at $16.33, before the report was released.

Sun reported a net loss of $34 million, or 4 cents a share, in its third quarter, in contrast to net income of $67 million, or 7 cents a share, in the year-ago quarter.

The company said revenue was flat at $3.27 billion.

[...]

Mr. Sacconaghi said that while the economy proved challenging during the quarter, Sun appeared to have been hit disproportionately hard.

Sun Microsystems Posts Loss and Plans to Reduce Jobs - New York Times

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