Close
  • Latest News
  • Artificial Intelligence
  • 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
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • 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

    Sun Posts Loss, Troubles Not Over

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

      Sun Microsystems Inc. suffered a net loss of $37 million for the quarter, slightly less than had been projected, as it continued to struggle from sagging sales of its Unix-based servers and workstations.

      Sun executives said that while it expects sales to remain weak over the next few months, the companys optimistic that its efforts to reduce operating costs and improve gross margin percentages will eventually return the Palo Alto, Calif., company back to profitability.

      “Despite the continued general economic uncertainties, Sun is improving its financial position while continuing to invest in product development and core competencies to promote the long-term growth of the company,” Mike Lehman, Suns chief financial officer, said in a statement.

      However, Wall Street analysts are predicting larger loses are ahead, with consensus estimates projecting a loss of 9 cents per share in the coming quarter, according to Thomson Financial/First Call.

      For the just completed quarter, Suns net loss amounted to 1 cent per share on revenue of $3.11 billion. Market analysts had been projecting a loss of 2 cents per share, according to Thomson Financial/First Call. During the same period last year, Sun recorded a net profit of $136 million, or 4 cents per share.

      Sun, which was a leader in selling hardware in the late 90s during the surge in Internet-based companies, saw a large portion of its income disappear when the dot-com bubble burst in 2000. For the first half of its fiscal year, Suns sales plunged 41 percent compared to a year earlier.

      Despite sluggish demand for its products, Sun Chairman Scott McNealy said he remains confident the companys newer technologies and boosted promotional efforts will rekindle sales.

      “Despite the challenging economic environment, weve protected our investments in R&D while winning customers in new markets,” he said in a statement issued Thursday. “In addition to funding R&D, were making major investments in global marketing,” citing Suns new “We make the Net work” ad campaign.

      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.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.

      MOST POPULAR ARTICLES

      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Applications

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Applications

      Kyndryl’s Nicolas Sekkaki on Handling AI and...

      James Maguire - November 9, 2022 0
      I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
      Read more
      Cloud

      IGEL CEO Jed Ayres on Edge and...

      James Maguire - June 14, 2022 0
      I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
      Read more
      Logo

      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.
      © 2022 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.

      ×