I'd like to think SUNW is making progress with their
inventory correction, but the balance sheet says NO:
SUN MICROSYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
June 30, June 30,
ASSETS 2001 2000*
Current assets:
Cash, cash equivalents and short-term
investments $1,859 $2,475
Accounts receivable, net 2,955 2,690
Inventories 1,049 557
Other current assets 2,071 1,155
Total current assets 7,934 6,877
Property, plant and equipment, net 2,697 2,095
Long-term investments 4,677 4,496
Other assets, net 2,873 684
$18,181 $14,152
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings $3 $7
Accounts payable 1,050 924
Accrued liabilities 2,176 2,117
Income taxes payable 90 209
Deferred revenues and customer deposits 1,827 1,289
Total current liabilities 5,146 4,546
Long-term debt and other obligations 2,449 2,297
Stockholders' equity 10,586 7,309
$18,181 $14,152
By way of comparison, AR last Q was 2913 and inventories
were 899. They have improved their cash position, up to
1859 from 1287. But it doesn't look like business improved
at all (which isn't surprising given their previous statements). |
