Sun Microsytems Reports Loss in Quarter
SAN FRANCISCO — Sun Microsystems, the maker of server computers, swung to a loss in the third quarter as economic challenges overshadowed its gains in overseas markets.
The company reported a net loss of $34 million, or 4 cents a share, in the third quarter, compared with net income of $67 million or 7 cents a share in the period a year ago.
Sun said revenue declined half a percent, to $3.27 billion, from $3.28 billion in the third quarter last year.
Net income fell short of the expectations of Wall Street analysts, who had forecast earnings of 18 cents a share on $3.38 billion in revenue.
Total gross margin was 44.9 percent, an increase of 0.4 percent. (more…)
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