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Thursday, January 16, 2003 5:10:42 PM
Talk about spin.......
Sun Posts $2 Billion Loss, Slight Profit
Thursday January 16, 4:48 pm ET
SANTA CLARA, Calif. (Reuters) - Sun Microsystems Inc. (NasdaqNM:SUNW - News) on Thursday reported its largest net loss ever, taking more than $2 billion in charges chiefly for investment losses, but managed to squeeze out a small operating profit in a tough environment for selling high-end computers.
Santa Clara, California-based Sun, which makes computers that manage networks, reported a net loss of $2.28 billion, or 72 cents a share, in its fiscal second quarter ended December, versus a year-ago net loss of $431 million, or 13 cents a share.
Revenue was $2.92 billion after $3.11 billion in the year-ago quarter.
Excluding one-time items, Sun reported a profit of $10 million, or nil cents a share. Analysts polled by Wall Street tracking firm Thomson First Call had forecast Sun would post a loss of 1 cent to 3 cents with the consensus at a loss of 2 cents on revenue of $2.91 billion.
Sun Posts $2 Billion Loss, Slight Profit
Thursday January 16, 4:48 pm ET
SANTA CLARA, Calif. (Reuters) - Sun Microsystems Inc. (NasdaqNM:SUNW - News) on Thursday reported its largest net loss ever, taking more than $2 billion in charges chiefly for investment losses, but managed to squeeze out a small operating profit in a tough environment for selling high-end computers.
Santa Clara, California-based Sun, which makes computers that manage networks, reported a net loss of $2.28 billion, or 72 cents a share, in its fiscal second quarter ended December, versus a year-ago net loss of $431 million, or 13 cents a share.
Revenue was $2.92 billion after $3.11 billion in the year-ago quarter.
Excluding one-time items, Sun reported a profit of $10 million, or nil cents a share. Analysts polled by Wall Street tracking firm Thomson First Call had forecast Sun would post a loss of 1 cent to 3 cents with the consensus at a loss of 2 cents on revenue of $2.91 billion.
For those who understand no explanation is needed, ...For those who don't none will.
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