Sun Microsystems continues to show stronger growth than many of its competitors despite the Asian slow own and falling hardware margins across the industry.
Revenues and profits hit record levels for the fourth quarter of Sun's fiscal 1998. An increase of around 15 per cent took profits to $272.9 million including an acquisition related one-time charge of $14 million. 13 per cent on revenues took them to $2.9 billion.
The full year reflected similar growth rates. Profits rose to $906 million from $735 million for 1997, with revenue up one billion to $9.6 billion this year.
"As enterprise class products from Microsoft and Intel slip further into the horizon, customers continue to reward Sun's consistent vision, strategy and delivery of network computing products and services...the results speak for themselves, Sun continues to gain share," said chief executive Scott McNealy.
Servers and workstations are shipping at record levels, claimed the company in a statement accompanying the results. Servers make up one-third of all sales. Sun added that $1 billion had been spent on research and development in the year.
The Asian crisis had hit sales, admitted chief financial officer Michael Lehman, but he said a 26 per cent rise in European sales and 12 per cent in the US had more than offset Asian falls. He said he expected growth to continue in the mid to high teens over the next year.
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