Sun Pre-Announces Solid FY Q4; Stock Jumps After Hours
Fascinating. Sun Microsystems (JAVA), which has been under intense selling pressure in recent sessions, this afternoon announced preliminary results for its fiscal fourth quarter, which ended in June, that were obviously better than the Street had feared, sending the stock sharply higher.
Sun said fourth quarter revenue will be $3.725 billion to $3.8 billion, with gross margin in the 44 to 45 percent range. Sun expects non-GAAP profits of 25 to 35 cents a share. The Street had been looking for $3.8 billion and 27 cents.