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.