Sun Microsystems Posts 1.68 Billion Loss

It would seem that Sun Microsystems hasn't been spared from the financial crisis that started in the USA with the collapse of the housing market and spread across the globe.

An article appeared in Computer Bild today indicating that this time last year Sun posted an almost 90 million USD win, but has been particularly hurt this year by it's enterprise hardware division. It's largest customers being in the financial sector and being unable to continue paying for their systems. Additionally, because of the crisis, many large firms have put their investments in IT-infrastructure on hold.

Sun's stock has tumbled almost 14% in mid-morning trading, down 0.74 to $4.55 on the news. Sun maintains that with its high cash reserves and position in the open-source software arena it's future is secure.

2 Comments to "Sun Microsystems Posts 1.68 Billion Loss"- Add Yours
Brandon Harper's Gravatar One other piece of the puzzle is that they did at least a couple of big acquisitions which affected their last quarter because of write-offs and one time charges. I think the next quarter will actually give a better perspective of what the health of the company is like.

Seems like they still haven't really recovered well from the .com implosion, IMHO...
# Posted By Brandon Harper | 10/31/08 12:05 AM
Gary's Gravatar I take it by big acquisition you mean the ridiculous price they paid for MySQL?
# Posted By Gary | 10/31/08 12:48 AM

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