Wednesday, July 15, 2009 11:15:00 AM
http://blogs.barrons.com/techtraderdaily/2009/07/14/sun-microsystems-ye-gads-that-was-an-ugly-quarter/
Hey, Oracle (ORCL) CEO Larry Ellison! Are you totally sure you want to buy Sun Microsystems (JAVA)?
Sun today pre-announced extremely ugly results for its fiscal fourth quarter ended June 30. The company said revenue for the quarter will range from $2.58 billion to $2.68 billion, about flat with the $2.614 billion reported in the March quarter, well below last year’s $3.78 billion, and short of the Street at $3.03 billion. Sun said it sees a non-GAAP EPS loss of 6-16 cents, which is far worse than the penny-a-share loss the Street had expected.
So, why was the quarter so bad? Sun isn’t giving any detail, and there isn’t going to be a conference call, given Sun’s pending acquisition by Oracle. But there are a few obvious possibilities:
Sun’s salespeople have been distracted by the deal.
Sun’s customers aren’t keen on the company being acquired by Oracle.
IT spending isn’t improving as fast the Street had expected.
All of the above.
Let’s hope it is some combination of the first two; otherwise, we could be in for a very ugly earnings period in the tech sector.
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM