System News for Sun Users - The Blog

Initial Quarter Narrows Losses From Last Year’s Numbers

Sun reported results for its first quarter of fiscal 2010, which ended September 27, 2009, in a Securities and Exchange Commission filing November 6th. The company narrowed its first-quarter loss to $120 million, or 16 cents a share, from $1.68 billion, or $2.24 a share, in the year-ago period. Lower operating expenses helped Sun curb its fiscal first quarter loss, Reuters reported.

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Net Loss, Lower Revenue Expected, Company Reports

Sun projects it will have a net loss of 24 to 34 cents per share for its fourth quarter of fiscal 2009, which ended June 30, 2009. This translates to between 6 and 16 cents a share excluding special nonrecurring items. The company reported these preliminary results two days before a special stockholder meeting (July 16) where members were set to vote on whether to approve Sun’s acquisition by Oracle.

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