Sun Cuts 4Q Net Income by &#36;12 Million
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Computer maker Sun Microsystems Inc. reduced its net income by &#36;12 million for its fiscal fourth quarter, citing new information related to property leases and the finalization of the accounting for its settlement with Microsoft Corp.
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Net income at US bank Lehman Brothers fell a smaller-than-expected 12% in the fourth quarter to $886m (Â£435m).
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Sun Microsystems today posted a narrower quarterly loss as revenue rose year over year for the second consecutive quarter after three years of declines.
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3M Co  said on Tuesday fourth-quarter earnings fell as last year's results included a gain for selling a business.
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Sun Microsystems Inc.  on Thursday reported a small quarterly net profit, after a year-earlier loss, but a new range of products has so far failed to ignite sales at the maker of computer servers and storage equipment.
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The company reported third-quarter net profit of $4.4 billion (3.09 billion euros), citing higher maintenance costs and shutdowns at crucial refineries.
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The newspaper publisher reported profit of $365.7 million on the sale of several newspapers. Excluding the gain, earnings fell on weaker advertising.
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The Wall Street Journal parent reports a 19% drop in Q4 income and provides lower guidance.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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Network computer maker Sun Microsystems Inc. (SUNW.O: Quote, Profile, Research) on Thursday posted a narrower quarterly loss as revenue rose year over year for the
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Sun Microsystems (nasdaq: SUNW - news - people ) said it broke even for the fiscal first quarter, topping analysts&#39; estimates.
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Sun Microsystems Inc.'s first-quarter loss was reduced Friday as the server and software company finalized the accounting for its $92 million patent settlement with Eastman Kodak Co. over the Java programming technology.
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Northeastern U.S. oil refiner Sunoco  Inc. SUN.N said on Thursday net income jumped in the fourth  quarter of 2004 on continuing strong refining margins.
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The ATM maker said earnings fell to $79 million in the fourth quarter, reflecting the spinoff of its Teradata software unit.
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Sun Microsystems Inc. SUNW.O on  Thursday reported a small quarterly net profit, reversing a  year-earlier loss, as narrower costs offset a slight revenue  decline.
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The company said fourth-quarter earnings fell from year-ago results that included a one-time gain. But adjusted profit exceeded expectations on Wall Street, driven by higher sales.
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Sun Microsystems Inc. trimmed its fourth quarter and full-year 2004 results this week, to account for final accounting of asset retirement obligations and its settlement with Microsoft Corp.