Sun posts $760 million loss, shuffles hardware units

Sun posts $760 million loss, shuffles hardware units

Sun Microsystems on Thursday reported a net loss of US$760 million, or $0.23 per share, in the third quarter of its fiscal 2004 year, which ended March 28.

The company also announced a reorganization of its hardware divisions, as well as the departure of two senior executives: Chief Marketing and Strategy Officer Mark Tolliver and Executive Vice President of Volume Systems Products Neil Knox.

Sun's revenue for the quarter was $2.65 billion, down 5 percent from the $2.79 billion it reported in the third quarter of 2003.

Revenue for the company's services division was up from the year-earlier quarter, however. The company reported services revenue of $940 million for the third quarter of 2004, up from $893 million in the same quarter of 2003.

The company also announced its first major reorganization since Jonathan Schwartz was appointed chief operating officer and president on April 2.

Effective immediately, the company's microprocessor and UltraSparc-based systems groups will be combined into a new Throughput Systems organization, which will be led by David Yen, who formerly headed up the company's processor division.

A new Network Systems division, headed on an interim basis by the former chief technology officer of Sun's software group, John Fowler, will be responsible for the company's systems based on x86 processors from Intel and Advanced Micro Devices.

Sun is conducting "internal and external searches" for a permanent head of this division, a company spokeswoman said.

The heads of both divisions will report to Schwartz.

Tolliver and Knox left the company to "pursue other interests," Sun said in a statement.

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