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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: jmac who wrote (18068)	7/22/1999 5:21:00 PM
From: John Carragher	Respond to of 64865

July 22, 1999 Sun Micro Beats Estimates For Period as Sales Rose 22% By an INTERACTIVE JOURNAL Staff Reporter PALO ALTO, Calif. -- Sun Microsystems Inc. edged past analysts' expectations for its fiscal fourth quarter, as strong Internet growth continued to drive demand for Sun's powerful computers, which manage Internet traffic, e-commerce and corporate networks. For the quarter ended June 30, the company posted net income of $395.2 million, or 48 cents a diluted share, up from $273 million, or 35 cents a share. The year-ago period included a charge; without the charge, profit was $287.8 million, or 37 cents a share. For the latest period, analysts surveyed by First Call/Thompson Financial were expecting a profit of 46 cents a share. Revenue, meanwhile, rose 22% to $3.51 billion from $2.88 billion a year ago. Sun's stock had slumped in April after the company warned that possible turmoil in the industry, particularly uncertainties related to the year-2000 problem, could hurt Sun's profit and revenue growth in the second half of this year. But the stock has since recovered. Thursday, amid a slump in technology stocks, Sun shares slid $3.50 to close at $67.1875 on the Nasdaq Stock Market. The results were announced after the close of trading. "We had a terrific fourth quarter; our team really delivered," said Chief Executive Scott McNealy in a statement. The company said it had record shipments during the most-recent quarter and expects growth in its e-commerce and service provider markets. "Our enterprise services continue to grow as we provide customers the expertise to architect, design and maintain the dot-com business," Mr. McNealy said.

To: jmac who wrote (18068)	7/22/1999 5:28:00 PM
From: Charles Tutt	Read Replies (2) \| Respond to of 64865

I know the feeling. Maybe, since we've already had the selloff, it'll actually go up after beating earnings (what a concept!). If not, I've got some capacity and desire to buy more. JMHO.