SN#12035 Sun Reports Second Quarter Revenues
SYSTEM NEWS FOR SUN USERS
Vol 71 Issue 2 2004-01-12 Article 12035 from section "News"
McNealy Confident with Sun's Strategy
Revenues for Sun's second quarter of fiscal 2004 were $2.888 billion, a
sequential increase of 13.9 percent and a year-over-year decline of 0.9
percent as compared with $2.915 billion for the second quarter of fiscal
2003. Net loss for the quarter was $125 million or $0.04 per share as
compared with a net loss of $2.283 billion or a net loss of $0.72 per
share for the second quarter of fiscal 2003.
"FY04Q2 was a quarter of progress for us," said Scott McNealy, Chairman,
President and Chief Executive Officer, Sun. "We announced over 20 new
products at our sold-out SunNetwork[SM] Conference in Berlin and a
significant alliance with AMD that will continue our strategy of using
industry economics to deliver extreme performance at compelling price
points and puts Sun in a strong product position for calendar year 2004.
We continue to be confident that these investments, along with our
ongoing focus on operating efficiency and quality, will deliver
increasing value to our customers and partners worldwide."
Steve McGowan, Sun's Chief Financial Officer and Executive Vice
President, Corporate Resources, said "Our sequential revenue growth was
the highest Q1 to Q2 revenue growth since fiscal year 1998. Despite
competitive pressures, we improved gross margin sequentially due to an
ongoing focus on cost management."
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