Sun beats Wall Street expectations

Sun beats Wall Street expectations

LOS ANGELES, Jan. 15 (Xinhua) — US computer system maker Sun Microsystems on Thursday reported a narrower-than-expected quarter loss, as the company seeks to improve its operations.

Sun reported revenue of 2.9 billion dollars for the second fiscal quarter ending Dec. 28, slightly down from 2.91 billion dollars a year ago. That beat analysts’ revenue expectations of 2. 7 billion dollars.

The company also posted a 125 million dollars net loss, or 4 cents a share, compared with a loss of 2.3 billion dollars, or 72 cents a share, a year ago. Wall Street analysts had been expecting the company to report a loss of 5 cents a share.

The second quarter was described as one of progress, Sun CEO Scott McNealy said in a statement.

“We announced over 20 new products at our sold-out SunNetwork 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,” McNealy said.