Sun result fails to shine

Sun result fails to shine

Sun Microsystems's quarterly revenue continued its decline in the fourth quarter.

Revenue was US$2.975 billion, down 4.3 percent compared to last year's fourth-quarter revenue of $3.1 billion but in line with analyst expectations as compiled by Thomson First Call. Net income was $121 million, which included a net tax benefit of $190 million that was the result of adjustments to a reserve account as well as a tax expense on foreign earnings.

The Santa Clara, California, company said its net income on a non-GAAP basis was $200 million, which excludes an $84 million restructuring charge and a related tax benefit.

Sun recorded revenue of $11.1 billion for its 2005 fiscal year, down 1 percent compared to last year's revenue of $11.2 billion. Sun's net loss for the year was $11 million, an improvement over last year's $388 million net loss.

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