Sun Makes $1 Billion Revision for Q4

 
 
By eweek  |  Posted 2003-10-06 Print this article Print
 
 
 
 
 
 
 

Sun last week revised its fiscal fourth-quarter financial results with a $1.05 billion charge.

Sun last week revised its fiscal fourth-quarter financial results with a $1.05 billion charge.

Suns revised fourth-quarter results indicate a $1.04 billion loss for the period ending June 30. The company previously reported a small profit of $12 million.

In a statement, Sun officials said the reason for the charge was "to increase a valuation allowance for its net deferred tax assets in accordance with the Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes."

 
 
 
 
 
 
 
 
 
 
 

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