Sun posts second-quarter loss

Sun posts second-quarter loss

Sun Microsystems unveiled its second-quarter results for fiscal year 2002 Friday, reporting revenue slightly higher than was expected for the quarter but still posting substantial losses compared to the same period last year.

Sun's revenue for the quarter, which ended December 30, 2001, came in at US$3.11 billion, a decrease of 39 per cent compared to the second quarter of the previous year.

Net loss for the quarter -- excluding investment losses, restructuring costs, and other, one-time charges -- was $99 million, or $0.03 per share, a decrease of 121 per cent compared to the net earnings per share in the year-earlier quarter.

A Thomson Financial/First Call survey of analysts predicted a second quarter loss of $0.04 a share and revenue of $3.09 billion.

Including investment losses and other special charges, the net loss for the second fiscal quarter was $431 million and the net loss per share was $0.13.

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