Sun's Profits Dip 73 Percent, Pins Hopes on Open Source

[ Thanks to Sakshi Garg for this link. ]

"Some observers are blaming the drop in profit on slumping revenues, but revenues were $3.78 billion, down only 1.4 percent from a year ago, and the company has continued with cost-cutting measures as the economy underperforms. The real reason for the slump in profits is that Sun has faced heavy competition from IBM and Hewlett-Packard in the high margin server market. Still, Sun maintains that its many open source initiatives will lead it toward brighter days."

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