Sun Micro profit falls on lower sales
Sun Microsystems Inc. said that profit fell 73% last quarter and that it didn’t expect to make money this quarter as customers of its server computers cope with an economic slump.
Net income for the April-to-May fiscal fourth quarter fell to $88 million, or 11 cents a share, from $329 million, or 36 cents, a year earlier, Santa Clara, Calif.-based Sun Micro said. U.S. sales, which accounted for more than a third of revenue, fell 9.4%. Revenue dropped 1.4% to $3.78 billion.