Sun Microsystems reported a 37 per cent profit gain for its fourth fiscal quarter ended 30 June 1999, on record revenue.
Net profit for the quarter climbed to $395 million, or 48 cents per share, from $288 million, or 37 cents per share in the year earlier period, excluding a charge related to an acquisition. Wall Street analysts predicted earnings of 46 cents per share.
Revenue for the quarter was $3.52 billion, up 22 per cent from $2.88 billion during the same quarter last year.
Sun's chief executive Scott McNealy said success had come from "our relentless focus on network computing."
Peter Lemon, IDC analyst said: "They are in the area of the economy which is booming - the Internet. Focusing on this key market has paid off."
Results for the full 1999 fiscal year, looked just as healthy. Net profit for the fiscal year was $1.1 billion, up 28 per cent over the previous year. Earnings per share for the year were $1.42, up 23 per cent on the previous year. Revenue hit $11.73 billion, 20 per cent over the prior year.
One of the factors contributing to Sun's shining success was its bullish performance in the server market. IDC figures show that Sun enjoyed a 33 per cent factory revenue growth rate in the total server market.
"Sun has a strong channel to market and legions of loyal resellers. It's technology also has a good reputation. It's Sparc chips are good," said IDC's Lemon.
Overall, Lemon believes that Sun has a "strong portfolio of products," but that next year the company will be pushing hard on its services division.
"After Year 2000 is over, every business is going to need to be Web enabled and Sun is in a good position to sell the whole package to the customer."
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