Sun shines on revenues, cuts losses

27 Oct 2006

Server and software giant Sun Microsystems this morning reported a 17pc year-on-year increase in revenues to US$2.7bn in its first quarter results.

The company managed to reduce its net losses from US$123m last year to US$56m.

Sun, which employs 170 people at a software development centre in Dublin, said that revenue increases resulted from acquisitions, growth in its services business and growing sales of its Solaris 10 operating system.

Cash generated from operations for the first quarter was US$157m and the company has US$4.6bn in cash and securities in the bank.

An ebullient Sun CEO Jonathan Schwartz exclaimed: “It’s great to grow faster than the competition, maintain strong gross margins and see continued adoption of Solaris on HP, Dell and IBM computers.

“Customers across the world are turning to Sun as the safe choice for open source innovation, for industry-leading identity and security management platforms and for the most eco-responsible infrastructure to power the network,” Schwartz said.

By John Kennedy