NEW YORK – Sun Microsystems Inc. warned on Friday that it expects to have an operating loss of 5 cents to 7 cents a share in its fiscal first quarter ended Sept. 30, wider than the Wall Street consensus, citing the weak economy and uncertainties related to the Sept. 11 attacks.
Sun also said that revenue would be in a range of $2.7 billion to $2.9 billion, below estimates.
Sun said it would cut its work force by 9 percent and consolidate excess facilities, causing it to take a $500 million charge in the second quarter.
Analysts had expected Sun to post a loss of 4 cents a share in the first quarter, according to Thomson Financial/First Call. Analysts also expected revenues of $3.3 billion.