Sun posts $2 billion loss (that got to hurt)
Reuters | at | by Mike
Sun on Thursday reported its largest net loss ever, taking more than $2 billion in charges chiefly for investment losses. Santa Clara, California-based Sun, which makes computers that manage networks, reported a net loss of $2.28 billion, or 72 cents a share, in its fiscal second quarter ended December, versus a year-ago net loss of $431 million, or 13 cents a share. Revenue was $2.92 billion after $3.11 billion in the year-ago quarter. Investors have been concerned about Sun's ability to defend its high-technology territory from incursions by makers of smaller machines running on Intel microchips. Price competition has also been brutal in high-end computers.