Published on Friday, November 06, 2009
By LA Daily News Staff Writer
Sun
5th loss in a row
Sun Microsystems., the server-computer maker being acquired by Oracle, reported its fifth straight quarterly loss as customers delayed orders for its products. The first-quarter net loss narrowed to $120 million, or 16 cents a share, from a loss of $1.68 billion, or $2.24, a year earlier, Sun said Friday in a regulatory filing. Sales dropped 25 percent to $2.24 billion in the quarter ended Sept. 27. Sun's shareholders approved Oracle's $7.4 billion takeover in July after the company lost customers in the market for server computers, which run Web sites and corporate networks, to larger rivals including International Business Machines and Dell. Oracle, the world's biggest database software maker, announced the $9.50-a-share acquisition in April.
- Bloomberg News
AOL
Adds to board
AOL named Susan Lyne, the former CEO of Martha Stewart Living Omnimedia, to its board as the Internet company prepares to be spun off from Time Warner
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