Sun Microsystems Posts $795M Profit in 4Q

[mazzy]

SAN JOSE, Calif. - Sun Microsystems Inc. reported a fiscal fourth-quarter profit Tuesday as the struggling server and software maker saw sales jump for the first time in three years and benefited from its settlement with Microsoft Corp.

For the three months ended June 30, Sun earned $795 million, or 24 cents per share, compared with a loss of $1.04 billion, or 32 cents per share, in the same period last year. Sales rose 4.3 percent to $3.11 billion from $2.98 billion last year.

The results, however, were boosted by Sun's $1.95 billion settlement with Microsoft on April 2, and Sun said it was seeking confirmation of its accounting from the Securities and Exchange Commission (news - web sites). It also said results were "pending final resolution of these matters."

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Sun generated $2.2 billion in cash from operations in the fourth quarter, finishing its fiscal year with cash and marketable securities worth $7.6 billion. It's the 15th consecutive year of positive cash flow from operations

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Server unit volume growth jumped 46 percent from the fourth quarter of last year, McNealy said. During that time, Sun released systems based on its new UltraSparc IV as well as Advanced Micro Devices Inc.'s Opteron processor.

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[mazzy]

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