Sun Microsystems, Inc. reported losses of $209 million for its second quarter of fiscal 2009, which ended December 28, 2009.
Revenues for the second quarter of fiscal 2009 were $3.220 billion, a decrease of 10.9 percent as compared with $3.615 billion for the second quarter of fiscal 2008, and an increase of 7.7 percent as compared with $2.990 billion for the first quarter of fiscal 2009.
Net income for the second quarter of fiscal 2009 was $114 million, or $0.15 per share compared with a net loss of $65 million, or $0.09 per share, for the first quarter of fiscal 2009.
Sun shares, however, jumped 5.56% (+0.21) to $3.99 per share amid better than expected sales for the Silicon Valley server and software maker.
AtomicSub has much more on Sun’s earnings including comments from Sun CEO Jonathan Schwartz and a few highlights from one of the best server manufactures and software pioneers in the sector. More after the break!
In November, the world’s fourth-largest server manufacturer revealed that it is cutting up to 6,000 of its 33,000 workers in efforts to restructure and save up to $800 million per year. These benefits are expected to be realized in fiscal 2010.
“It’s great to see customers so aggressively embracing open source software, from Solaris to MySQL, alongside Sun’s new open source storage platforms as a means of radical cost reduction,” said Jonathan Schwartz, CEO of Sun Microsystems.
Jonathan stated that “strategic highlights for the quarter were xVM Virtualbox, Sun’s open source virtualization platform and signing a Solaris OEM deal with Dell, through which they’ve endorsed and will support Solaris across their server and blade platforms.” Jonathan also mentioned double-digit growth in emerging economies. “India, China, Latin America, to portions of Eastern Europe and the Middle East. We saw booming growth in our UltraSPARC T2 Niagara platform, generating approximately $285 million in billings, 100% higher than a year ago.”
The last three months of 2008 were brutal for hardware manufacturers as companies cropped their tech spending. IBM Corporation, a key Sun rival, saw its hardware division’s revenue decline 20% during the period.
This comes amidst massive layoffs in the United States with Microsoft slashing 5,000 jobs, Sprint Nextel 8,000, Texas Instruments 3,100, Caterpiller 20,000 and IBM laying off 2,800 with thousands more expected worldwide.
