Dosh shines out of Sun's dot-com
Will bumper year make McNealy go touchy-feely?
Sun Microsystems saw profits surge 37 per cent and sales grow 22 per cent for the fourth quarter ended 30 June. Net income was $395 million, against last year's $288 million, excluding an acquisition charge. Earnings per share were 48 cents, compared with last year’s 37 cents. Revenues climbed to a record $3.5 billion. For the full 1999 fiscal year, Sun reported net income up 28 per cent at $1.2 billion, earnings per share were up 23 per cent at $1.42. Yearly sales were up 20 per cent at $11.7 billion. Including acquisition-related charges, profit for the year was $1.0 billion. CEO Scott McNealy said: "We continue to gain market share versus our competitors." "Sun's success has come as a direct result of our relentless focus on network computing," said McNealy. The UK saw growth of 19.5 per cent for the year. Shanker Trivedi, Sun VP for UK and Ireland, said the UK professional services had doubled its revenues over the year. "Perhaps most significantly, we have seen the emergence of the dot-com companies with new business models like boo.com and Egg, whose speed to market and innovation are based around Sun solutions," he added. ®