Sun Microsystems To Report Q4 Loss of $0.24 to $0.34
Tuesday July 14, 2009
Navivest
Sun Microsystems ( ) announced today that for its fiscal 2009 Q4 period that ended June 30, it expects to report a loss of $0.24 to $0.34 on revenue of $2.6 billion to $2.7 compared to $3.8 billion and a loss of $0.12 in the same period a year ago. Analysts had been looking for the company to report revenue of $3.03 billion and a per share loss of $0.01.
This will be Sun’s last quarter as an independent company and assumptions are being made that the company is reporting the much larger than expected loss because it wants to clean up its books before it becomes a division of Oracle ( ).
On April 20, 2009, both companies announced a definitive agreement under which Oracle will acquire Sun for $9.50 per share in cash, which valued the deal at approximately $7.4 billion, $5.6 billion net of Sun’s cash and debt.
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