Fiscal 2000 has seen Sun Microsystems almost double its net income and increase its yearly revenues by a remarkable 33% as compared to last year's figures.
"We are obviously doing the right thing, at the right time and with the right products," says Stefano Mattiello, MD at Sun Microsystems SA.
"The huge market acceptance these results reflect is a strong affirmation that the dot.com strategy, which Sun has been expounding for some time now, is exactly what the market needs and wants."
Mattiello says Sun saw growth in virtually all the important markets, including telecommunications, financial services, retail and manufacturing.
"Locally Sun has also had a very strong fiscal 2000 and we're going into the next financial year with an excellent order book," he states.
With revenues at $15,721 billion, 33% higher than last year, Sun's net income of $1,725 billion was 49% higher than in fiscal 1999 , excluding gains on the sale of equity investments for fiscal year 2000 and acquisition-related charges for years 2000 and 1999.
Sun's earnings per share, excluding these special items, was $1.02, an increase of 46 percent from the previous year's results.
Revenues for this past quarter, which ended June 30, 2000, were $5,017 billion - a hike of 42% compared with the corresponding quarter of fiscal 1999. Net income was $659,5 million, up 67% against last year's $395,3 million, excluding gains on the sale of equity investments and acquisition-related charges for fiscal year 2000.
At $39 Sun's fourth quarter earnings increased by 63% as compared to the same quarter in fiscal 1999, a figure which also excludes gains on the sale of equity investments and acquisition-related charges for fiscal year 2000.
During the fourth quarter, special items resulted in a net gain of $92,7 million. This included gains on the sale of equity investments of $95,8 million and an acquisition-related charge for in-process research and development of $3,1 million in connection with the purchase of Innosoft International.
Taking these special items into account, net income and earnings per share for the fourth quarter of fiscal year 2000 were reported as $720,4 million and $,42 respectively.
Including special items, net income was $1,854 billion and earnings per share totalled $1,10 for fiscal year 2000.
"Our vision, focus and execution are the driving forces behind this record setting year," says Sun Microsystems CEO Scott McNealy.
"With the dramatic success of our core technology platforms, Sun's position as one of the Internet's leading innovators has never been stronger. Enterprises and service providers are coming to Sun to help them build out their network infrastructure and e-commerce business.
"Our belief is that everything with a digital or electronic heartbeat will one day be connected to the Internet and often to Sun servers," concludes McNealy.
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