The results for
Sun Microsystems
I've heard from Sun employees that they expect to hear about their fates in the next two weeks to a month. The timing is tied to the closing of the deal.
Revenues for the fourth fiscal quarter are expected to be $2.58 to $2.68 billion. A year ago, Sun's quarterly revenues were $3.78 billion, and third fiscal quarter revenues were $2.61 billion.Wall Street was expecting sales of $3.03 billion.
Sun's GAAP-based loss is expected to be 24 cents to 34 cents a share. On a non-GAAP basis, Sun expects a loss of 6 cents to 16 cents a share. Analysts expected a non-GAAP loss of 1 cent a share. Shareholders are voting on the Sun-Oracle combination on July 16. Sun's shares are down, as are Oracle's, this morning.
In a statement, Oracle said it expects the $7.4 billion Sun acquisition to be accretive by at least 15 cents a share on a non-GAAP basis in the first full year after closing. It said the acquired business will contribute over $1.5 billion to Oracle’s non-GAAP operating profit in that year. That is, Oracle expects Sun will add to its earnings over time.