For a go-go company like Sun Microsystems Inc, fiscal fourth quarter figures – profits off 43%, sales up just 3% – are lousy, and a company that a year ago looked a shoo-in to pass the four billion dollar mark this year, struggled to only $3,590m: explanation has to be that the company shot itself in the foot by announcing the Sparcsystem 10 machines with such a long lead time, many would-be customers are holding back and waiting for them, and that things will not really start to pick up until those start shipping around September time – which suggests that dullness will continue for the current quarter; several analysts lowered their fiscal 1993 earnings estimates on Sun after the figures, where were below expectations; Alex Brown & Sons lowered its rating to neutral from strong buy and cut its fiscal 1993 earnings estimate to $1.80 from $2.80 a share; the share price slumped, falling $2.00 to $25.50.
