Sun Micro sales fall, Oracle deal delay stings
By Reuters
NEW YORK (Reuters) - Computer maker Sun Microsystems Inc <JAVA.O> suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp <ORCL.O> hurt its business.
Lower operating expenses helped Sun Microsystems curb its fiscal first quarter loss to $120 million, or 16 cents a share compared with $1.68 billion, or $2.24 a share, a year earlier, according to a filing with the U.S. Securities and Exchange Commission.
But revenue fell to $2.24 billion from $2.99 billion in the same quarter a year earlier, and was lower than the average analyst estimate of $2.34 billion, according to Thomson Reuters
I/B/E/S.
"Our first quarter of fiscal year 2010 results continued to be affected by the economic downturn, the uncertainty associated with our proposed acquisition by Oracle, increased competition and delays in customer purchasing decisions," Sun said in a statement on Friday.
Oracle Chief Executive Larry Ellison recently said that Sun is losing about $100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth probe of the deal. Sun Microsystems has said is cutting around 10 percent of its staff.
(Reporting by Ritsuko Ando; editing by Carol Bishopric)
2009 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies. For additional information on other Reuters media services please visit http://about.reuters.com/media/.
recommend this article
Page: 1Related Newsletters: IBN - IT Weekly Newsletter




email article
print
With 3 Reviews.




