April 16, 2004

Sun reports losses, layoffs

SAN JOSE - Sun Microsystems Inc. posted a larger-than-expected loss in its fiscal third quarter yesterday as the computer and software maker continued
to lay off workers and reorganize amid blistering competition from rivals.

Sun reported a net loss of $760 million, or 23 cents per share, compared to net income of $4 million, or break-even per share, in the same quarter
last year. The company had revenue of $2.65 billion for the quarter, down 5 percent from $2.79 billion in the same period of 2003.

Santa Clara-based Sun spent more than $200 million during the quarter ending March 28 to pare its 35,400-member workforce and vacate real estate near
its pricey Silicon Valley campus. Chairman and chief executive Scott McNealy announced earlier this month that Sun would slash 3,300 jobs during the
current quarter, or 9 percent of its staff.

Link: marinij.com

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