Friday, October 31, 2008

Sun Microsystems Reports $1.7 Billion Loss and Falling Sales - NYTimes.com

Apparently Sun’s CEO was off a bit in his assertion a couple weeks ago that Sun had $3.5B cash on hand

Sun’s results were announced after the market close. Shares closed at $5.29 in regular trading Thursday, up nearly 10 percent, giving the company a market value of about $4 billion despite annual sales of about $14 billion. The low market capitalization, combined with Sun’s vast intellectual property portfolio and $2 billion in cash, suggest to some observers that Sun needs to do something drastic to bring out its shareholder value. Options include going private with the help of supportive investors or selling its old-line server business to its partner, Fujitsu.

Sun Microsystems Reports $1.7 Billion Loss and Falling Sales - NYTimes.com

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