Sun Earnings to Scare Moss Off Rock
by John Paczkowski
Posted on July 14, 2009 at 8:23 AM PT
Looks like Sun’s last quarterly report as an independent company will be among the company’s ugliest. Sun, which is to be acquired by Oracle in a $7.4 billion deal, said Tuesday morning that its fiscal fourth-quarter loss will be far steeper than the one Wall Street has been expecting.
The company says revenue for the quarter will fall between $2.58 to $2.68 billion–down from $3.7 billion a year ago and well under the $3.03 billion for which analysts have been calling. And it expects a loss of six cents to 16 cents per share on a non-GAAP basis. That’s pretty ugly when First Call consensus has been predicting a loss of a penny per share.
What was it Oracle wants with Sun, again?
Sun (JAVA) shareholders are set to vote on the Oracle (ORCL) acquisition this Thursday.
Comments
I don’t know why Oracle bought Sun. It will be a big headache for then for a while!
Posted by David Robins at July 14th, 2009 at 9:49 am