“Sun Chief Financial Officer Mike Lehman [also] said the company will cut 1,500 to 2,500 jobs. The company had 34,400 employees at the end of the quarter.”……”The U.S. economy presented Sun with significant challenges in the third quarter, masking our progress in developing nations and economies across the world,” said Chief Executive Jonathan Schwartz in a statement.
Sun reported a net loss of $34 million, or 4 cents per share, a decline from net income of $67 million in the year-earlier quarter; the figure includes charges of about 4 cents per share from the acquisition of open-source database company MySQL. Revenue decreased $17 million to $3.266 billion, a notch below the $3.4 billion expected by analysts surveyed by Thomson Financial.
In after-hours trading, Sun’s stock dropped $2.48, or 15 percent, to $13.85.”