Sun sees revenue down 10% in Q3

• Published: 17 Apr 2003 12:56

Sun Microsystems saw a 10.2% drop in third-quarter revenue compared with the same period one year ago. However, the company posted net income of $4m (£2.5m) for the period, an improvement over a $37m loss for the same period in 2002.

Revenue for the quarter ending 30 March totalled $2.79bn, down 10.2% from the $3.107bn it had in the third quarter of fiscal year 2002. 

The net income $4m compares with a net loss of $37m a year ago. 

Sun boss Scott McNealy said  the company is doing what it can to make itself healthier in a poor economy. "We made a number of strategic efforts in the areas of entry-level systems, Sparc processor development and utility and managed services that strengthen our position." 

The third-quarter figures are an improvement over the company's results for its second quarter, when Sun posted a net loss of $2.28bn.

Steve McGowan, Sun's chief financial officer, said the company's third-quarter financial improvement is an important step during what remains a tight economy. "This quarter's results indicate we continued to take the appropriate actions in areas such as cost improvements, productivity enhancements, discretionary expense management and cash generation," McGowan said.