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Sun Shares Swoon; Sees GAAP Loss in Q1; Down Revs

August 1, 2008
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

It’s another rough morning for Sun Microsystems (JAVA) shares.

This morning, Sun posted results for its fiscal fourth quarter ended June that were consistent with the guidance provided in mid-July. Revenues were $3.78 billion, gross margin was 44.3 percent, and non-GAAP profits were 35 cents a share; the company has forecast $3.725 to $3.8 billion in revenue, with gross margin in the 44-45 percent range, and non-GAAP EPS of 25 to 35 cents. Revenue in the quarter was down 1.4 percent from a year earlier; full year revenue of $13.88 billion was up 0.1 percent from fiscal 2007.

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