PALO ALTO, Calif. (AP) — Fourth-quarter earnings surged 75 percent for Sun Microsystems Inc., easily surpassing Wall Street expectations amid heavy demand for its Internet hardware and software.
For the three months ended June 30, the Palo Alto company earned $720.3 million, or 42 cents per share, compared with earnings of $395.2 million, or 24 cents per share, in the year-ago period.
Excluding gains on the sale of investments and a one-time charge, operating income was $695.5 million, or 39 cents a share.
The per-share earnings were well above market expectations of 33 cents a share, according to a survey of analysts by First Call/Thomson Financial.
Revenue was $5.02 billion, up from $3.54 billion in the year ago period and the first time the computer equipment company has ever surpassed $5 billion in a quarter.