ALO ALTO, Calif., Jan. 21 /PRNewswire/ -- Sun Microsystems, Inc., (Nasdaq: SUNW) today reported results for the second quarter which ended December 27, 1998. Revenues for the second quarter were $2.784 billion, up 14 percent compared with the second quarter of fiscal 1998. Net income for the second quarter was $272.3 million, an increase of 22 percent from the previous year's results (excluding acquisition-related charges for fiscal years 1998 and 1999). Second quarter earnings per share were $.67, an increase of 18 percent over the corresponding period a year ago (excluding acquisition-related charges for fiscal years 1998 and 1999).
During the second quarter, acquisition-related charges for in-process research and development totaled $12 million in connection with the acquisitions of Beduin Communications, Incorporated and i-Planet, Inc. Including these charges, net income was $261.1 million and earnings per share totaled $.64 for the second quarter. Due to the structure of the i-Planet transaction, Sun also recorded an increase of $3.2 million to its income tax provision. |
