Overall, Sun's sales slowed by 7% year over year to around $3.0 billion. Last year's $0.10 net profit per share evaporated in a $1.45 billion goodwill impairment charge, landing at a $2.24 GAAP net loss per share. CEO Jonathan Schwartz explained that "the entire amount of goodwill associated with our systems reporting unit" -- some of which would likely be leftovers from its $4.1 billion buyout of StorageTek three years ago -- had to go down the drain. Big-iron server sales are dropping like hot potatoes. Sun's workstations haven't been much of factor for years.
MySQL acquisition could open new opportunities for Sun. The 11 million users of the open-source database generally run it on Microsoft
This company doesn't look like a serious rival to server specialists like IBM
Sounds great in theory, but Mr. Market only sees the massive writedown and took Jonathan's stock behind the woodshed for a sound beating today. If Sun looked cheap four days ago, it's an even more enticing value today.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. At 6'5", he'd look right at home running errands for the Adams Family. You can check out Anders' holdings or a concise bio if you like, and The Motley Fool is investors writing for investors.