Sun Microsystems Reports 3Q Loss
SAN JOSE, Calif. (AP) _ Sun Microsystems Inc. posted a slim third-quarter loss on Thursday that beat Wall Street expectations by a penny, though the company _ still faced with slumping demand for high-powered network servers and workstations _ had sequentially flat revenues.
For the three months ended March 31, the Palo Alto-based company reported a net loss of $26 million, or a penny per share, on revenues of $3.1 billion. In the comparable period last year, the network equipment maker earned $136 million, or 4 cents a share, on revenue of $4.1 billion.
Analysts were projecting a loss of 2 cents a share on revenue of $3.2 billion, according to a survey by Thomson Financial/First Call.
Shares of Sun rose 29 cents to $8.52 in regular trading on the Nasdaq Stock Market, and gained another 2 cents in after-hours trading.
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