Sun stashes more cash in Q2
Tech titans hold steady
Lost in all the hullabaloo over the $1bn MySQL buy were Sun Microsystems' preliminary second quarter results.
For the quarter ended Dec. 30, Sun posted revenue of $3.6bn - a 1 per cent increase over the $3.57bn reported in the same period last year. Working off preliminary figures, Sun thinks it will report net income between $230m and $265m, which compares with net income of $133m in the previous second quarter. Sun will dive deeper into these figures during a conference call with analysts this afternoon.
Sun was set to report earnings on Jan. 24.
Even with just this glimpse of the numbers, you find a Sun that appears quite healthy. Without question, surging shipments and revenues would be better. But Sun is showing fiscal responsibility by making the most of what it has with trimmed expenses and rising margins (48 per cent, up 3 points year-over-year.)
Sun has yet to release any specifics on product and services revenue, but we'll deliver that information as it arrives.
Having seen IBM, Intel and Sun hand in their results, we're looking at technology sector that's holding its own while surrounded by the doom and gloom fostered by the irresponsible folks in the financial sector. Thanks for nothing, Wall Street. ®