Troubled computer maker Sun Microsystems Inc revised its fiscal fourth-quarter results on Monday, taking a US$1.05 billion charge after realizing its first-quarter loss will be greater than expected. \nIncluding the charge, the company now says it lost US$1.04 billion, or US$0.32 per share, in the period ending June 30. Previously, it had reported a small profit of US$12 million, or break-even on a per-share basis, for the period. \nSun said it expects to post a loss of between US$0.07 and US$0.10 for the quarter that ended Sunday. The company declined to be more specific, saying it would report its full results on Oct. 16, as scheduled. \nAnalysts were expecting Sun to report a first-quarter loss of US$0.02 per share on sales of US$2.71 billion, according to a survey by Thomson First Call. \nThe charge is to boost a "deferred tax assets valuation allowance," which was calculated when its fourth-quarter earnings were announced July 23 and recalculated before those figures were reported officially to the Securities and Exchange Commission. \nThe charge was in accordance with the Statement of Financial Accounting Standards No. 109 and generally accepted accounting procedures, said Andy Lark, a Sun spokesman. \n"We will continue to review that deferred asset valuation. It could result in an increase or decrease in the future," he said. "That's what makes this a noncash writeoff." \nThe greater-than-expected first-quarter loss is yet another blow to Sun, which sold the hardware and software that powered much of the Internet during the high-tech boom. The company was hit hard when many customers, including countless dot-coms, went out of business during the tech downturn. \nIts proprietary equipment based on the Unix operating system now must compete with rivals' machines that run less-expensive chips and software. Sales of its high-end equipment also face renewed competition from International Business Machines Corp and Hewlett-Packard Co, which offer a wide variety of consulting services.
SCHEDULE: The delegation is due to meet with President Tsai Ing-wen this morning and witness the signing of an MOU on bilateral health cooperation in the afternoon US Secretary of Health and Human Services (HHS) Alex Azar yesterday arrived in Taipei aboard a US government plane at the head of a delegation that is the highest-level visit by a US official since Washington switched diplomatic recognition to China in 1979. Azar’s flight landed at Taipei International Airport (Songshan airport) at 4:48pm, nearly one hour earlier than scheduled, the Ministry of Foreign Affairs said. The apron where it landed is reserved for military aircraft, the Songshan Air Force Base Command said. The members of Azar’s delegation included HHS Assistant Secretary for Preparedness and Response Robert Kadlec, HHS Chief of Staff Brian
CHINESE FIGHTERS: Beijing marked the US Cabinet member’s visit by briefly sending two warplanes across the median line of the Taiwan Strait yesterday morning President Tsai Ing-wen (蔡英文) yesterday met with US Secretary of Health and Human Services Alex Azar in the highest-level official meeting between the two nations since 1979. “It is a true honor to be here to convey a message of strong support and friendship from [US] President [Donald] Trump to Taiwan,” Azar said during the open portion of his courtesy call to the Presidential Office, which was streamed live online before Tsai and Azar held a closed-door meeting. “Taiwan’s response to COVID-19 has been among the most successful in the world, and that is a tribute to the open, transparent,
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
‘CROSS-STRAIT CONSIDERATIONS’: Groups said that the Ministry of Education’s policies excluded Chinese and students should not be blocked over political issues The Taiwan International Student Movement yesterday said it would protest today outside the Ministry of Education in Taipei against a policy that excludes some Chinese students from returning to Taiwan amid the COVID-19 pandemic. Since June 17, the ministry has allowed foreign students from 19 “low risk” and “medium-low risk” countries and regions to enter Taiwan. On July 22, it announced that it was relaxing restrictions to include students from all countries and regions who are graduating this semester and on Wednesday it further expanded entry to students enrolled in degree programs. A letter sent by the ministry on Wednesday to universities did