Sun Microsystems' profit fell 82% in first quarter on output delays
Article Abstract:
Sun Microsystems Inc reported an 82 percent lower net income and 13 percent higher revenue for 1st qtr of FY 1993, compared to 1st qtr of FY 1992, due mainly to delays in releasing its SPARCstation 10 workstations and to a microprocessor shortage. Because the SPARCstation 10s were not available during the quarter, Sun sold only its older lines at that time, heavily discounting the prices in order to do so. Net income for 1st qtr was $4.8 million, the equivalent of five cents per share, whereas 1st qtr earnings for the year before were $26.8 million, the equivalent of 27 cents per share. Analysts predict that Sun's stock prices will fall temporarily, but will restore themselves because the new workstations will boost earnings and because the 2nd qtr is predicted to be favorable for Sun.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Sun Microsystems reports profit dropped 43% in fiscal 4th quarter
Article Abstract:
Sun Microsystems Inc reports lower than expected profits for its fiscal 4th qtr ended Jun 30 1992. The 43 percent difference between actual and projected profit for the period is blamed on price cutting and increased operation costs. Net income for the quarter was $37.7 million, 37 cents per share, as compared with a net income of 66.4 million, 63 cents per share, in the same quarter of 1991. Some industry analysts believe that the financial report will result in lower stock prices for Sun, while others believe that the difficulties are temporary and expect improved performance later in the year. The company has reduced prices of its workstation products to be competitive with HP. Additionally, Sun is expected to begin shipping a new line of workstations by Oct 1992.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Sun Microsystems 1st-quarter net gain disappoints analysts
Article Abstract:
Sun Microsystems Inc's 1st qtr FY 1991 earnings of $26.1 million, or 26 cents a share, disappoints analysts who were expecting earnings of 40 to 45 cents a share. Revenue for the 1st qtr ending Sep 28, 1990, rose 26 percent to $677 million from $585.5 million for the same period in FY 1990. Profit for the 1990 quarter was $5.2 million, or 7 cents a share. Unit sales rose 36 percent for the quarter as compared with the same period in 1989 and totaled 38,600. The maker of computer workstations expects sales to grow 30 percent to 35 percent for the fiscal 1991 year. Some analysts attribute the current slowdown in sales to an anticipation of the company's highest-performing workstation, which is to be released Nov 5, 1990.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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- Abstracts: Sun Microsystems exceeds forecasts on 2nd-period net. Amdahl's profit tumbled 42% in 4th quarter. Sun Microsystems reports a profit for its 4th quarter
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