ACADEMIA
Sun Microsystems Reports Second Quarter Fiscal Year 2008 Results
Improved Margins and Bookings Growth Signal Strength in Customer Demand: Sun Microsystems reported results for its fiscal second quarter, which ended December 30, 2007. Revenues for the second quarter of fiscal 2008 were $3.615 billion, an increase of approximately 1.4 percent as compared with $3.566 billion for the second quarter of fiscal 2007. Total gross margin as a percent of revenues was 48.5, an increase of 3.5 percentage points, as compared with the second quarter of fiscal 2007. 
Net income for the second quarter of fiscal 2008 on a GAAP basis was $260 million, or $0.31 per share, as compared with a net income of $133 million, or $0.15 per share, for the second quarter of fiscal 2007. GAAP net income for the second quarter of fiscal 2008 included a $32 million restructuring charge.
Cash generated from operations for the second quarter of fiscal 2008 was $336 million, and the cash and marketable debt securities balance at the end of the quarter was $4.677 billion.
"Today's results clearly demonstrate steady progress against our financial targets and highlight the accelerating demand set to fuel growth in the back half of the fiscal year," said Jonathan Schwartz, CEO of Sun Microsystems. "Headlining the results were improved margins and strong bookings along with double digit growth in emerging markets including India, China, Latin America, Eastern Europe, the Middle East and Africa. Adding to the momentum were the Solaris Operating System OEM agreement with Dell and our introduction of the industry's first open source datacenter virtualization and management platform, Sun xVM."
Net income for the second quarter of fiscal 2008 on a GAAP basis was $260 million, or $0.31 per share, as compared with a net income of $133 million, or $0.15 per share, for the second quarter of fiscal 2007. GAAP net income for the second quarter of fiscal 2008 included a $32 million restructuring charge.
Cash generated from operations for the second quarter of fiscal 2008 was $336 million, and the cash and marketable debt securities balance at the end of the quarter was $4.677 billion.
"Today's results clearly demonstrate steady progress against our financial targets and highlight the accelerating demand set to fuel growth in the back half of the fiscal year," said Jonathan Schwartz, CEO of Sun Microsystems. "Headlining the results were improved margins and strong bookings along with double digit growth in emerging markets including India, China, Latin America, Eastern Europe, the Middle East and Africa. Adding to the momentum were the Solaris Operating System OEM agreement with Dell and our introduction of the industry's first open source datacenter virtualization and management platform, Sun xVM." 