Shares of Sun Microsystems(SUNW Quote) were among technology's winners Wednesday, rising 6% after the server and software company posted better-than-expected earnings and announced a $700 million investment from Kohlberg Kravis Roberts.
For the period ended Dec. 31, the company earned $126 million, or 3 cents a share, on revenue of $3.57 billion. Excluding certain items, earnings were $148 million, or 4 cents a share. Analysts polled by Thomson First Call expected earnings of 1 cent a share, before items, on revenue of $3.52 billion. In the year-earlier quarter, Sun recorded a loss of $223 million, or 7 cents a share, on revenue of $3.34 billion.
Separately, Sun Microsystems said that KKR will purchase $350 million of convertible senior notes due in 2012 and $350 million in convertible senior notes due in 2014. Shares were trading up 33 cents to $5.99. ...
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