Sun Posts Record Revenues for FQ1

Sun Microsystemshas reported record revenues of just shy of US$2.1 billion for its first fiscal quarter, up 13% from revenues of $1.9 billion reported for the same period a year ago. Net income for the quarter, ended Sept. 28, was $108 million, or 27 cents per share, down from earnings of $123 million, or 32 cents per share, for the same quarter last year, Sun officials said. Seasonal issues, combined with the strength of the dollar in certain key foreign markets, kept net income lower than it might otherwise have been.

Sun Microsystemshas reported record revenues of just shy of US$2.1 billion for its first fiscal quarter, up 13% from revenues of $1.9 billion reported for the same period a year ago.

Net income for the quarter, ended Sept. 28, was $108 million, or 27 cents per share, down from earnings of $123 million, or 32 cents per share, for the same quarter last year, Sun officials said.

However, excluding non-recurring charges of $52.2 million associated with the acquisitions of Diba Inc. and Integrity Arts Inc., income was $163 million, up 32% from the same quarter last year, officials said. Excluding the one-time charges, earnings per share were 41 cents, up 28% over 32 cents per share reported for the year-ago quarter.

Seasonal issues, combined with the strength of the dollar in certain key foreign markets, kept net income lower than it might otherwise have been, said Michael E. Lehman, Sun's chief financial officer, in a statement released today.

Sun, based in Mountain View, California, can be reached via the Internet at http://www.sun.com/.

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