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October 15, 1998

COMPANY RESULT: SUN MICROSYSTEMS INC

By CBR Staff Writer

Sun Microsystems Inc reported first quarter net income up 5% at $113.9m compared with $108.4m including an $80m charge for writing off in process research and development associated with its acquisition of NetDynamics Inc and a one-time $30.4m tax hit associated with the same transaction. Revenues rose 19% to $2.49bn from $2.09bn last time. Earnings per share (excluding the charges) were a penny ahead of Wall Street’s consensus estimates at $0.50. Including charges actual earnings per share were $0.29.

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