Posted on 07/14/2009 7:05:48 AM PDT by SeekAndFind
Sun Microsystems Inc. on Tuesday updated guidance for what looks to be its final quarter as an independent company and set the date when shareholders will vote on its sale to Oracle Corp.
The Santa Clara computer company said it expects to lose between 24 cents and 34 cents in the quarter ended June 30 on revenue of between $2.6 billion and $2.7 billion. In the same quarter last year, Sun reported a loss of 12 cents a share on $3.8 billion in revenue.
Adjusting for one-time events, Sun (NASDAQ:JAVA) said it expects a loss of between 6 cents and 16 cents a share.
A survey of analysts by Thomson Reuters had projected a loss of a penny per share on sales of $3.03 billion.
Sun said its shareholders will vote at a special meeting on Thursday on the proposed acquisition of by Oracle (NASDAQ:ORCL).
The $5.6 billion deal was announced in April and is valued at $7.4 billion, including cash and debt.
Based on Tuesday's projections, Redwood City-based Oracle said it expects the acquisition will add at least 15 cents a share in non-GAAP earnings in the first full year after closing the transaction. It said it expects Sun will add more than $1.5 billion to its non-GAAP operating profit in that year and more than $2 billion in the second year.
Ahead of this week's vote, Sun was dropped from three Nasdaq indexes: the Nasdaq-100 Index, the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Technology Sector Index.
McNealy must have been working on this deal with Ellison full time since he retired from Sun. I wonder if Scott left the contract on the porch of Larry’s dojo, rang the doorbell and ran off.
What? No snarky comments for the press Scott? How unlike you!
Sun? SnORACLE (pronounced snore-acle)? Who needs them? Linux and MySQL or other databases do the trick for just about free.
15 years ago we couldn’t stop hearing how Snoracle was going to wipe out Microsoft. Now all the servers being installed that I have been a part of are Microsoft based platforms and doing well.
Windows is a perfectly fine platform to use for logging into a Unix/Linux system to get some REAL WORK done. :)
The sad part is that Sun developed MySQL. I wonder what is going to happen with MySQL..
I didn’t know spending the day configuring the machine and downloading patches was real work.
You must be talking about some operating system other than Linux. Here I update my system through the package manager with a couple of button clicks. In fact, it not only updates my operating system, but all the installed software as well.
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