Sun revenues drop 8 percent

Sun revenues drop 8 percent

SAN FRANCISCO (10/16/2003) - Sun Microsystems Inc. saw its first-quarter fiscal 2004 revenues decline eight percent to US$2.5 billion, the Santa Clara, California computer maker announced on Thursday.

Revenues dropped from the $2.7 billion Sun reported in its year-ago quarter.

The company posted a net loss of $286 million, or $.09 per share. At the end of September, Sun had warned it would be posting losses in the $.07 per share to $.10 per share range for this quarter. [See "Sun revises Q4 results; reports $1 billion loss" September 29.]

Despite the losses, Sun reported gains in its services and entry-level server business. The company reached its highest-ever level of services revenue for the fiscal first quarter, and made strong gains in the 1-2 way server market, Steve McGowan, Sun's chief financial officer and executive vice president, said in a statement.

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