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

To: shaanxi who wrote (13867)	1/22/1999 12:20:00 AM
From: puborectalis	Read Replies (1) \| Respond to of 64865

Sun Posts Stronger Profits By BLOOMBERG NEWS ALO ALTO, Calif. -- Sun Microsystems Inc., one of the biggest makers of computers that run the Internet, said Thursday that fiscal second-quarter earnings rose 22 percent, fueled by robust sales of its powerful machines. Profit before a charge rose to $272.3 million, or 67 cents a diluted share, from $223.2 million, or 57 cents, in the corresponding period a year earlier. Sun was expected to earn 66 cents in the quarter ended Dec. 27, the average estimate of analysts polled by the First Call Corporation. Shares of Sun, which also declared a 2-for-1 stock split today, have almost doubled in the last three months on optimism that the market for computers used by Internet service providers and for sites on the World Wide Web will remain hot. Sun's sales rose 14 percent to $2.78 billion from $2.45 billion. "The market for high-end servers is robust," said BT Alex. Brown analyst Phil Rueppel, who rates Sun shares "buy." Sun, based in Palo Alto, reported earnings after the close of regular trading. Its shares fell $7.125, to $98.25, today amid concern that it might have trouble meeting optimistic earnings forecasts because it switched to a new system for handling its orders, manufacturing and distribution.