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Friday, November 06, 2009
Sun Microsystems Narrows First-quarter Loss
By Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- Sun Microsystems Inc. said late Friday that its fiscal first-quarter loss narrowed to $120 million, or 16 cents a share, from $1.68 billion, or $2.24 a share, in the year-ago period. Revenue fell to $2.24 billion from $2.99 billion last year. Analysts surveyed by FactSet Research estimated a quarterly loss of 25 cents a share on revenue of $2.31 billion. In April, Oracle Corp. agreed to buy Sun for $9.50 a share, and in August the Justice Deprtment approved the transaction. The deal still needs approval from the European Commission and other foreign regulators.
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