Sun Loses $760 Million

Sun Microsystems lost $760 million as sales fell 7% to $2.6 billion during its fiscal third quarter, ended March 28. A year ago, the company lost $4 million on $2.8 billion in revenue.

For the first nine months of its fiscal year, the company lost $1.2 billion on revenue of $8.1 billion, compared with a loss of $2.4 billion on revenue of $8.5 billion for the same nine-month period a year ago.

The $760 million loss in the quarter included charges of $300 million related to deferred tax assets, $203 million for workforce and real-estate restructuring, and a gain of $3 million on equity investments. Without these charges, the quarterly loss would've been $260 million.