Sun Microsystems warns of 30% revenue decline
Sun Microsystems has warned that revenues for what should be its final quarter before the Oracle acquisition is finalised are likely to be down 30% on last year's figures.
The sales forecast comes just days before company shareholders are due to vote on a $7.4bn acquisition by Oracle, reports the Financial Times.
Sun warned that it expected to report revenues of $2.58bn-$2.68bn in its latest quarter, compared with $3.78bn the year before.
Although 30% below the figures for the same quarter last year, Sun's estimate is only 14% Wall Street expected revenues of £3.1bn.
The Oracle acquisition is yet to be approved by US authorities investigating issues around Java licensing. The EU may also scrutinise the deal for the same reason.
Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.