SUNW was in single digits in AHT, so this was McNealy's quick-fix, a reiterration of guidance. I'm sure he had a Maalox moment when the stock dropped to 9 and change.
Tuesday February 5, 4:10 pm Eastern Time
Sun Micro CEO still sees June-quarter profit
SAN FRANCISCO, Feb 5 (Reuters) - Network computer maker Sun Microsystems Inc. (NasdaqNM:SUNW - news) will return to profit in its June quarter, Chief Executive Scott McNealy said on Tuesday, reiterating a recent forecast.
"``We are not changing our guidance. We are targeting to go profitable again in the June quarter,'' he told an investment conference hosted by Goldman Sachs in La Quinta, California.
Sun gave the same outlook on Jan. 18, when it reported a loss in its fiscal second quarter, ended in December. Its fiscal year ends in June.
``The good thing about Sun is we took advantage of the bubble,'' McNealy said, adding that Sun had built up its brand name and a $6 billion cash stockpile over the last few years. A large part of Sun's customer base evaporated with the dot-com downturn.
Sun shares ended Tuesday trading down 25 cents, or 2.4 percent, at $10.15 on the Nasdaq. |
