Sun Q3 revenues fall short of expectations
InfoWorld | at | by Mike
Sun reported a net loss of $61 million or $0.02 per share, when calculated on a non-GAAP basis, which excludes a $45 million restructuring charge, income of $54 million relating to the company's legal settlement with Microsoft, and $41 million in tax benefits.
The earnings results were an improvement from its year-ago quarter, when the company lost $0.08 per share, but revenues were down slightly from the year-ago total of $2.651 billion.
Analysts had been expecting revenues of $2.736 billion and break-even earnings, according to a survey of financial analysts conducted by Thomson First Call.