Sun Microsystems has lowered its revenue forecast and warned that technology spending in some areas continues to weaken.
Chief financial officer Steve McGowan told analysts in a conference call that the company had not seen any improvement in the IT spending environment.
According to Reuters, McGowan said that he envisaged revenues for the first quarter of 2003 to be about the same as in the first quarter of 2002, at $2.86bn.
The figure is at the bottom end of the range he gave in July.
McGowan stressed that the drop in revenue from the fourth quarter would not be significant enough to hit margins, and that component pricing was favourable.
Discounts made in the fourth quarter of the 2002 financial year would not hit first-quarter results, he said.
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