Sun’s First Month Expected to Contribute About $636 Million
Oracle’s third quarter fiscal year 2010 results will be released on Thursday, March 25th, after the close of the market. Oracle plans on hosting a conference call and live web broadcast at 2:00 p.m. Pacific Time to discuss the financial results. The live web broadcast will be available from the Oracle Investor Relations Web site.
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.
Stockholders’ Meeting Set for December 17th
Sun has publicly released proxy materials for its 2009 Annual Meeting of Stockholders, which is set for December 17, 2009, at 10:00 a.m. (PT) on Sun’s Santa Clara Campus in Calif. If the proposed merger with Oracle is completed prior to this date, Sun will no longer have public stockholders and, therefore, the 2009 Annual Meeting of Stockholders will be canceled. Financial results for Sun’s first quarter fiscal year 2010 are expected to be posted on the company’s Investor Relations page upon the filing of the Company’s Form 10-Q with the Securities and Exchange Commission (SEC), which is due no later than November 6, 2009.
Earnings Show Profits Rise, Sales Fall
Oracle’s first quarter results for fiscal 2010 registered a net income of $1.1 billion, or 22 cents per share, for the three months ending Aug. 31. That was up 8% from earnings of $1.07 billion, or 21 cents per share, a year earlier. Sales for Oracle, the world’s third largest software maker, fell 7% to $5.1 billion in the quarter. New software licenses sales dropped 17% to $1 billion, while software license updates and product support revenues rose 6% to $3.1 billion.
Revenue Fall Adds to the $147 Million Deficit 
In its fiscal fourth quarter ending June 30, Sun recorded a $147 million net loss, or 20 cents a share, compared with a profit of $88 million or 11 cents a share in the same period a year earlier. Reporting these numbers in a regulatory filing after the market closed on August 28, the company said its loss would have been 3 cents per share excluding employee stock-based compensation and other expenses.
