Somehow, Some Way, Sun Beats… Sort Of (JAVA)
January 27, 2009 by Douglas A. McIntyreSun Microsystems, Inc. (NASDAQ:JAVA) just posted a wide loss for the quarter. Like that was a hard guess. The company posted a 10% drop in revenues to $3.22 billion, and it claims gross margins even after a 6.6-point drop were 41.9%. First Call had revenue expectations of $3.16 billion in revenues.
The loss was $209 million on a GAAP basis and it posted positivenon-GAAP earnings at $0.15 EPS. First Call had those estimates at-$0.10 EPS.
The company ended the quarter with a hair over $3 billion in cash and equivalents. But it did not give any formal guidance in its report. Schwartz and friends eitherwant to maintain analyst relevance by making everyone listen to thecall, or it is adopting the no-guidance stance we are starting to seemore and more.
Shares closed up over 5% at $3.99 today, and what is amazing is theafter-0hours reaction. Shares are up close to $4.30 in the initialreaction. Until the company gives guidance or says it won’t offerguidance, you might want to consider this a highly incomplete set ofdata.
Jon C. Ogg
January 27, 2009
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.