In comments today,

Sun Microsystems'

(SUNW) - Get Report

CEO said the company was on target to meet the profit forecasts it outlined for the quarter ending June 30.

In after-hours trading, the stock was up 0.2% from the close to $6.14.

For the current quarter, CEO Scott McNealy told

Reuters

the company is still planning to post a profit, as it predicted in its earnings call April 18. Analysts agree, estimating Sun will squeak out a penny per share profit for the quarter, according to Thomson Financial/First Call. He made the comments on the sidelines of a New York conference held by an investment bank.

Sun has lost money for the first three quarters of its current fiscal year.

In its midquarter update three weeks ago, the company said it expects revenue for the current quarter to increase slightly over the previous quarter's $3.1 billion.

Sun's stock has lost half its value since the beginning of the year, amid weak demand for technology and a rash of high-level executive departures.