SAN FRANCISCO - Shares of
soared in after-hours trading after the company forecast fourth-quarter results above Street expectations.
Sun said it expects net income for the quarter, including a restructuring charge of $100 million, to range from 5 cents a share to 15 cents a share.
Excluding charges, Sun expects to report net income ranging from 25 cents a share to 35 cents a share. Last year, during the same quarter, Sun reported a loss of 4 cents a share.
Revenue for the quarter is likely to be in the range of $3.72 billion to $3.8 billion, compared with revenue of $3.83 billion the year-ago quarter.
Analysts polled by
are expecting earnings of 20 cents a share on revenue of $3.21 billion.
Shares of Sun Microsystems were up 70 cents, or 8%, to $9.50 in extended trading.
Total gross margin as a percent of revenues for the quarter is expected to be in the range of 44% to 45%.
Last month, Sun
sales force, brought in a new sales chief and created a new group to accelerate business in developing countries.
As part of the change, Don Grantham, Sun's sales chief since 2006 left the company. Grantham became the second high-ranking executive to leave Sun recently. In March, David Yen, head of Sun's chip division left for