Soft sales bring Sun Microsystems Q1 loss to $180 million

Sun Microsystems reported that it lost $180 million in first quarter 2001 as sales slid 43%. Like others in the telcom industry lately, Sun attributed its performance to a shaky economy and a lackluster sales environment following the terrorist attacks.

For the three months ended September 30, the company lost six cents per share, compared with a profit of $456 million, or 14 cents a share, in the same quarter last year. The company posted revenues of $2.86 billion, compared with $5.05 billion last year.

The company had issued an earnings warning on October 5, when it also announced 3900 job cuts--about 9% of its workforce--and a consolidation of "excess" facilities. The company will take a charge of $500 million in the second quarter to cover the restructuring.

--Kelly Carroll, staff writer