Sun Swings to Black in Fourth Quarter |
| PC World - Jul 31, 2007 |
Sun Microsystems Inc. Monday reported it had swung to a fourth quarter profit compared to a loss last year on essentially flat revenues.
Sun posted net income of US$329 million, or $0.09 a share, on revenue of $3.835 billion in the three months ended June 30, reversing a loss of $301 million, or $0.09 a share, on revenue of $3.828 billion in the same quarter in 2006.
The company credited cost-cutting for part of its swing to profitability. Sun trimmed $487 million in expenses in the fourth quarter, cutting the total to $1.49 billion from $1.97 billion a year earlier. It cut general administrative, research and development, purchasing and other costs. Sun also benefitted from lower component costs, such as for computer memory, said Mike Lehman, Sun's chief financial officer, on a conference call with stock analysts that was monitored by reporters.
Read Full Article from PC World
- Posted: 2007-07-31 10:28:58
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