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From the News Desk
Wednesday, 1. August 2007
Sun Micro Reports Profit Finally
After being under red for quite a while, one of Silicon Valley’s darling Sun Microsystems has returned to profits and has swung to a fiscal fourth-quarter profit from a year-ago loss.
Sun, the world’s third biggest maker of servers said its operating profit margin reached 8.5 per cent, more than double than its earlier target of at least 4 per cent.
Sun, which returned to profit in the second and third quarters after five consecutive quarterly losses, has tried to stage a recovery by revamping its product line, selling servers powered by chips from Advanced Micro Devices and Intel Corp, among other moves. The company last year announced about 5,000 job cuts to reduce costs.
Net income was USD 329 million, or 9 cents per share, in the fourth quarter ended June 30, compared with a year-earlier net loss of USD 301 million, or 9 cents per share.
Its revenue rose to USD 3.84 billion from USD 3.83 billion, as services revenue rose slightly, and hardware revenue declined. Operating expenses fell 25 per cent to USD 1.49 billion.
Sun, the world’s third biggest maker of servers said its operating profit margin reached 8.5 per cent, more than double than its earlier target of at least 4 per cent.
Sun, which returned to profit in the second and third quarters after five consecutive quarterly losses, has tried to stage a recovery by revamping its product line, selling servers powered by chips from Advanced Micro Devices and Intel Corp, among other moves. The company last year announced about 5,000 job cuts to reduce costs.
Net income was USD 329 million, or 9 cents per share, in the fourth quarter ended June 30, compared with a year-earlier net loss of USD 301 million, or 9 cents per share.
Its revenue rose to USD 3.84 billion from USD 3.83 billion, as services revenue rose slightly, and hardware revenue declined. Operating expenses fell 25 per cent to USD 1.49 billion.
