ACADEMIA
Sun Reports Preliminary Results for Second Quarter Fiscal Year 2008
Sun Microsystems reported preliminary results today for its second quarter of fiscal 2008, which ended December 30, 2007. Sun expects to report revenues for the second quarter of fiscal 2008 of approximately $3.60 billion, an increase of approximately 1 percent as compared with $3.57 billion for the second quarter of fiscal 2007. Net bookings for the second quarter of fiscal 2008 were approximately $3.85 billion, an increase of approximately 7% year over year. 
Total gross margin as a percent of revenues for the second quarter of fiscal 2008 is expected to be approximately 48%, an increase of approximately 3.0 percentage points as compared with the second quarter of fiscal 2007.
Net income for the second quarter of fiscal 2008 on a GAAP basis is expected to be in the range of $230 million to $265 million, or $0.28 to $0.32 per share on a diluted basis, as compared with net income of $133 million, or $0.15 per share, for the second quarter of fiscal 2007.
"Our preliminary results for the second quarter reflect solid execution and continued operational progress," said Jonathan Schwartz, CEO and president of Sun Microsystems. "The future is even brighter today as evidenced by our agreement to acquire MySQL, one of the fastest growing players in the $15 billion database market and a key component of many of the Web's premier properties such as Facebook, Wikipedia, China Mobile and Baidu. As the market for open source databases continues its spectacular growth, we look forward to this acquisition directly contributing to Sun's growth as the platform of choice for the Web economy."
Sun has scheduled a financial analyst conference call today at 1:00 p.m. (PT) to discuss its preliminary financial results for the second quarter fiscal year 2008 as well as the announcement of its intent to acquire MySQL. The call is being audiocast live at its Web site.
Total gross margin as a percent of revenues for the second quarter of fiscal 2008 is expected to be approximately 48%, an increase of approximately 3.0 percentage points as compared with the second quarter of fiscal 2007.
Net income for the second quarter of fiscal 2008 on a GAAP basis is expected to be in the range of $230 million to $265 million, or $0.28 to $0.32 per share on a diluted basis, as compared with net income of $133 million, or $0.15 per share, for the second quarter of fiscal 2007.
"Our preliminary results for the second quarter reflect solid execution and continued operational progress," said Jonathan Schwartz, CEO and president of Sun Microsystems. "The future is even brighter today as evidenced by our agreement to acquire MySQL, one of the fastest growing players in the $15 billion database market and a key component of many of the Web's premier properties such as Facebook, Wikipedia, China Mobile and Baidu. As the market for open source databases continues its spectacular growth, we look forward to this acquisition directly contributing to Sun's growth as the platform of choice for the Web economy."
Sun has scheduled a financial analyst conference call today at 1:00 p.m. (PT) to discuss its preliminary financial results for the second quarter fiscal year 2008 as well as the announcement of its intent to acquire MySQL. The call is being audiocast live at its Web site. 