Sun Micro Swings to a Loss
SAN FRANCISCO --
Sun Microsystems
(JAVA)
swung to a loss in its fiscal third quarter, as the computer maker's sales suffered from the slumping U.S. economy.
Sun's revenue declined 0.5% year-over-year to $3.26 billion in the quarter, below the average analyst expectation of $3.37 billion.
Sun posted a loss of $34 million, or 4 cents a share, in the three months ended March 30. The results included a 4-cent-a-share charge related to its acquisition of MySQL.
Analysts had expected Sun to earn 18 cents a share, but it wasn't immediately clear what items the estimate included.
At this time last year, Sun earned a profit of $67 million, or 2 cents a share.
"The U.S. economy presented Sun with significant challenges in the third quarter masking our progress in developing nations and economies across the world," said CEO Jonathan Schwartz in a statement.
Shares of Sun were off 21 cents, or 1.3%, to $16.12 in recent after-hours trading.