Sun reports prelim Q2, expects to profit

Print Friendly, PDF & Email

Sun’s release is here, and you can read coverage from different outlets at your favorite business site. I chose the MarketWatch writeup for this post.

Sun said that it expects to report a profit between 5 cents and 15 cents a share on revenue in a range of $3.725 billion to $3.8 billion for its fourth quarter ended June 30. During the same period a year ago, Sun earned 9 cents a share on $3.835 billion in revenue.
Following the surprise announcement, Sun’s shares climbed 11%, to $9.80 share, in after-hours trading after rising 2 cents to close the regular market session at $8.80 a share.

Why is Sun reporting now rather than waiting until their 1 August date? From the MarketWatch piece

Sun Microsystems Inc. on Tuesday delivered a surprise, preliminary fiscal fourth-quarter earnings report that the company said it felt compelled to give due to the continued uncertainty surrounding the financial markets.