Sun Microsystems quarter financial results
Sun Microsystems announced results for the first financial quarter of 2003, that ended on September 29, 2002.
Sales volumes made $2.7 billion, 4% lower than $2.9 billion of the previous quarter. The dead loss (GAAP) made $111 million, or $0.04 per stock, that´s lower than $180 million or $0.06 per stock year ago. Excluding $31 million for stocks purchase, $24 million restructuring expenses, and $22 million taxes, the loss made $78 million, or $0.02 per stock.
Next year Sun plans to continue restructuring and cut staff by 11%, resulting about $300 million additional expenses. R&D investment cut is not planned.
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