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Sun swings to a profit

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Sun swings to a profit

Sun today announced financial results for its fourth fiscal quarter 2007 and full fiscal year 2007 ended June 30. Revenues for the quarter were $3.84 billion and for the year $13.87 billion. Net income for the fourth quarter was $329 million, compared to a loss of $301 million one year ago. For the full year, the company reported a net profit of $473 million, up from a net loss of $864 million for FY2006.

The company currently has about $5.9 billion in cash and marketable securities.