Sun Microsystems returned to profitability during the last financial quarter. The company returned to profit despite the current slowdown in the IT market and the fall in telco spending.
Sun generated revenues of $3.4 billion in Q4. This Q4 revenue figure was 10% higher than the $3.1 billion the company made during Q3 but 17% lower than the $4 billion in revenues the company made during Q4 2001. Sun’s net income for Q4 2002 was $20 million, compared with a loss of $88 million in the corresponding period last year. Sun’s improved operating performance in Q4 is being attributed to the company experiencing a recovery in the US market where sales rose 20%.
For the full fiscal year, Sun posted revenues of $12.5 billion. This year’s revenue figure represents a drop of 32% on the company’s 2001 revenue figure. Sun made a net loss in 2002 of $628 million.