Sun projects it will have a net loss of 24 to 34 cents per share for its fourth quarter of fiscal 2009, which ended June 30, 2009. This translates to between 6 and 16 cents a share excluding special nonrecurring items such as amortization of acquisition-related intangibles, stock-based compensation, restructuring and related impairment of long-lived assets, settlement income, net gain or loss on equity investments and the tax effect of these non-GAAP adjustments.

Revenues for the fourth quarter of fiscal 2009 are expected to fall within the range of $2.580 to $2.680 billion, as compared with $3.780 billion for the fourth quarter of fiscal 2008.

Sun announced that it will not be hosting a conference call to discuss the fourth-quarter results. The company expects to post final results on its Investor Relations Web page upon the filing of its annual report, due no later than August 31.

The company reported these preliminary results two days before a special stockholder meeting (July 16) where members were set to vote on whether to approve Sun's acquisition by Oracle for $7.4 billion. Approval was confirmed with approximately 62% of the shares of Sun outstanding common stock voting for the merger. The Department of Justice is in the process of performing due diligence regarding antitrust issues. On June 26, the DOJ took a second 30-day window of time to continue the research on the proposed acquisition. Once approved, the Federal Trade Commission and the Securities and Exchange Commission also will review the buyout.

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Investor Relations

Sun to be Acquired by Oracle [...read more...]

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