Third loss in three quarters for Sun

Sun Microsysytems has reported results for the second quarter 2002 to 30th December 2001.

Revenues were $3.1bn, a sequential increase of 9% compared with reported revenues for the first financial quarter of 2002, and a 39% decrease compared with the same period one year ago.

Net loss for the second quarter was $99m and the net loss per share was $0.03.

During the second quarter of 2002, a number of special items increased the net loss.

For example a $39m loss on Sun’s equity investment portfolio and restructuring charges of $511m.

These one-time items bring Sun’s net losses to a total of $431m, 13 cents a share, compared to a profit of $423m in the year-earlier quarter.

Sun’s shares closed, down 2.02% to $12.12 on the Nasdaq on Friday.

This is its third straight quarterly loss, however Sun says things are looking better after the difficulties of 2001.

Michael Lehman, Sun’s Chief Financial Officer said: "Compared with Sun’s first fiscal quarter, bookings and revenue in the second fiscal quarter are up sequentially.

"We are showing signs of progress. Despite economic uncertainties, Sun is still investing in product development and core competencies to promote the long-term growth of the company."

Sun, is the leading maker of UNIX-based servers used in corporate computer networks and the internet.

It is headquartered in California and employs 43,000 worldwide.

Sun established its Strategic Software Development Centre in Dublin 1993.

The Dublin centre’s responsibilities include operating and networking systems development, webtop /desktop development, software localisation and system test.

The company also operates collaborative research programmes with various third level colleges in Ireland.