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January 16, 1997updated 05 Sep 2016 12:51pm

GROSS MARGINS UP AGAIN AS SUN BEATS Q2 ESTIMATES

By CBR Staff Writer

Sun Microsystems Inc easily beat Wall Street’s second quarter earnings expectation by an average of four cents, coming in at $0.46 on the day and recording a net income of $178.3m up 41% from $126m last time. The whisper prior to the announcement was for $0.45 or $0.46. Revenue was up 19% at $2.08bn from $1.75bn in the same period in 1995. Gross margins were up again, and now stand at 50.4%, up from 47.7% in September quarter; even higher than we had expected… despite price cuts in the quarter, said CFO Michael Lehman. Order growth was 19%. At the half way, revenue was $3.94bn, up 22% on $3.23bn last time; income was up 43% at $301.7m on $210.7m last time. In the geographies, revenue was up 22.6% in North America, 13.9% in Europe and 17.3% elsewhere, where Japan is the biggest market. Operating income was $255.8m up 43% from $177.9m last time. Headcount was up by 1,168 at 19,355.

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