Earnings Roundup: Sun, Lucent, Sybase - InformationWeek

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Earnings Roundup: Sun, Lucent, Sybase

Sun Microsystems on Thursday posted a strong second quarter, with earnings jumping 30% over last year's to $353 million. Revenue for the quarter, which ended Dec. 26, was $3.55 billion, up 27% the same period last year.

The company credited strong demand for workgroup servers, high-end servers, and services with helping to fuel growth. Sun CEO Scott McNealy said the strong performance underscores Sun's acceptance as a key provider of Internet technology.

Meanwhile, Lucent Technologies on Thursday reported revenue of $9.91 billion and income of $1.18 billion for the first quarter ended Dec. 31, in line with the lowered profit and revenue figures it had warned investors were coming.

The networking giant cautioned two weeks ago that revenue would be flat and earnings down compared with the $1.52 billion it reported last year. Lucent blamed the shortfall on manufacturing problems in its optical product line and delays in customer deployments. The news stunned Wall Street and sent the company's stock price tumbling. It closed yesterday at 52, down from 72-1/2 before the profit warning.

Sybase Inc. on Thursday reported net income soared to $26.3 million in its fourth quarter ended Dec. 31, making it the second most profitable quarter in the company's history. But the improvement in the database vendor's profitability came despite slow year-over-year sales growth.

Sybase's net income for the quarter compared with a net loss of $14.6 million in the same period last year, which included a $22.4 million restructuring charge. For fiscal 1999, net income reached $62.5 million compared with a loss of $93.1 million in fiscal 1998. Fourth-quarter revenue reached $237.1 million, which represented only a 1.9% gain from the $232.5 million in sales in the same period last year. Sybase reported total revenue for 1999 of $871.6 million, less than 0.5% growth over 1998's revenue of $867.5 million.

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