Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
Search
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Development
    • Development

    After Year in Red, Sun Posts Profit

    By
    eWEEK EDITORS
    -
    July 18, 2002
    Share
    Facebook
    Twitter
    Linkedin

      Workstation and server maker Sun Microsystems Inc. posted a modest profit today after four consecutive quarterly losses, but ended its fiscal year with a net loss of $628 million.

      For its fourth quarter, Sun posted a profit of $20 million on sales of $3.4 billion, for a profit of a penny per share, which was in line with consensus Wall Street expectations, according to Thomson Financial/First Call.

      “We stated a goal of reporting a profit this quarter and we achieved that goal,” said Sun Chairman and Chief Executive Scott McNealy, in a statement issued with the earnings. “Im immensely proud of my team. They have integrity. They have talent. They have tenacity. And, they achieved this goal while protecting investments in research and development, aggressively managing cash balances, and gaining market share from competitors.”

      Revenues for the were up 10 percent from the previous quarter, but still well below the $4 billion it recorded a year ago.

      For its full 2002 fiscal year, Sun posted a loss of 19 cents per share, or $628 million, which includes a $517 million restructuring charge, a $99 million loss on equity investments.

      Sun, based in Santa Clara., Calif., was among the companys hardest hit by the collapse of Internet-based businesses in 2000 and 2001, eliminating a substantial portion of customers that had purchased Suns Unix-based servers due to their ability to handle thousands of simultaneous transactions that e-commerce sites had to be able to handle.

      In the past year, the company has refocused its efforts on marketing to traditional brick-and-mortar companies, such as financial and scientific institutions, as well as refreshing its product line to more effectively compete against rivals Hewlett-Packard Co. and IBM.

      McNealy said the companys return to profitability shows those efforts are paying off.

      “We achieved gains in low-end server sales through the continued success of our UltraSPARC III processor-based products such as the Sun Fire V880 2-way, 4-way, and 8-way servers and the Sun Fire 280R, rack-mountable 2-way server,” he said. “We also increased sales of our high-end UltraSPARC III processor-based products such as the Sun Fire 6800 and Sun Fire 15K mainframe replacement servers. These gains were augmented by strong market acceptance of our newest products such as the Sun Fire V480 4-way server in the low-end space and the Sun Fire 12K server in the high-end space.”

      Underscoring the companys recent successes, Sun this week announced that the Cambridge-Cranfield High Performance Computing Facility in Glasgow, Scotland, has purchased 10 Sun Fire 15K servers, Suns largest server, in a deal valued at more than $40 million.

      Suns 15K server is the companys most powerful computing system, capable of handling up to 106 64-processors and 576GB of memory in a single cabinet.

      In addition to that successful sales overseas, Sun said the company is also regaining its footing in the U.S. market, as well.

      “We were particularly pleased with our strong performance in the U.S. geography, which reported 20% revenue growth over the prior quarter,” said Steve McGowan, Suns chief financial officer, in a statement issued today.

      eWEEK EDITORS
      eWeek editors publish top thought leaders and leading experts in emerging technology across a wide variety of Enterprise B2B sectors. Our focus is providing actionable information for today’s technology decision makers.

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      Chris Preimesberger - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      eWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Big Data and Analytics

      How NVIDIA A100 Station Brings Data Center...

      Zeus Kerravala - November 18, 2020 0
      There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
      Read more
      Apple

      Why iPhone 12 Pro Makes Sense for...

      Wayne Rash - November 26, 2020 0
      If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
      Read more

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×