Author: Melanie Hollands
Last night, Sun reported earnings. (Quarterly earnings are a good read on the progress of turnaround situations, such as Sun’s.) Revenue growth was soft — down 2 percent year-over-year. This isn’t surprising and was consistent with this column’s opinions: on Sept. 17, this column said that in spite of enthusiasm in the media and investment communities for Sun’s growth prospects that its outlook would remain muted. Sun’s revenues should have been stronger, since the weaker U.S. currency should have helped. So this indicates that Sun’s underlying business growth rate was quite weak and that the company has lost share.