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Sun Peeks from Behind Clouds
Sun Pre-announced Its Fourth Quarter and Said it Could Have Non-GAAP Earnings Somewhere between 25 Cents and 35 Cents

Sun, whose stock has been teetering on the brink of disaster, pre-announced its fourth quarter Tuesday and said it could have non-GAAP earnings somewhere between 25 cents and 35 cents because of a $100 million restructuring charge (five-15 cents GAAP) on revenues of $3.725 billion-$3.8 billion. Its gross margin is supposed to be 44%-45.

Wall Street folks figured it would do 27 cents on $3.8 billion.

Sun CEO Jonathan Schwartz has now taken the position that customers are looking to open source software to save costs in a tough economy.

In the March quarter, when Sun lost $34 million, four cents a share, Jonathan blamed the economy.

Citigroup figures Sun closed some deals that slipped in Q3.

The company reports August 1.

Meanwhile, the company has been laying people off, 3% of its workforce, part of a plan, announced in May, to dismiss around 2,500.

About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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