sunflash-Distributed to mailing list sunflash@suntri sunflash-Send requests and problem reports to owner-sunflash@suntri.east.sun.com ---------------------------------------------------------------------------- The Florida SunFlash SUN MICROSYSTEMS, INC. ANNOUNCES STOCK REPURCHASE PROGRAM SunFLASH Vol 54 #26 June 1993 ---------------------------------------------------------------------------- 54.26 SUN MICROSYSTEMS, INC. ANNOUNCES STOCK REPURCHASE PROGRAM Sun plans to repurchase up to 10 million shares (about 9.5%) of Sun's outstanding common stock in the open market. ---------------------------------------------------------------------------- Analyst contact: Richard Van Hoesen (415) 336-0117 Press contact: Cindee Mock (415) 336-3563 Mountain View, California -- June 24, 1993 -- Sun Microsystems, Inc. (NASDAQ: SUNW), today announced that it plans to commence a stock repurchase program under which up to 10 million shares, or approximately 9.5% percent, of Sun's outstanding common stock may be acquired in the open market. Under the program, share purchases may be made from time to time, depending on market conditions, share price and other factors. The purchases will be funded from available working capital and the repurchased shares will be held in treasury or used for ongoing stock issuances such as for employee stock plans. As of March 28, 1993, Sun had approximately 105.8 million shares outstanding. Treasurer Richard Barker said, "Approximately a year ago, we announced a similar program to repurchase 7.5 million shares. That program has now been completed. The Board's approval of this new program reflects its continued optimism for Sun's future. The decision was made in view of the current price of Sun stock, which we believe still does not reflect the true value of the company. Since we announced the first program last year, we have refreshed our entire desktop and server product lines, and maintained one of the strongest balance sheets in our industry. In addition, revenues in the most recently reported quarter increased approximately 20% over the corresponding quarter a year ago. Repurchasing stock is one means of sharing these accomplishments with our stockholders while underscoring our commitment to enhancing stockholder value." Sun Microsystems, Inc., is an integrated portfolio of businesses that supply distributed computing technologies, products and services. Its innovative open client-server computing solutions include networked workstations and multiprocessing servers, operating system software, silicon designs and other value-added technologies. According to analysts, the company's products command the largest share of one of the computer industry's fastest growing market segments: workstations and servers. Founded in 1982, Sun is a Fortune 150 company headquartered in Mountain View, California. # # # Sun Microsystems, Inc., Sun Microsystems and the Sun logo are registered trademarks of Sun Microsystems, Inc. ********************************************************************** For information about SunFlash send mail to info-sunflash@Sun.COM. Subscription requests should be sent to sunflash-request@Sun.COM. Archives are on solar.nova.edu, ftp.uu.net, sunsite.unc.edu, src.doc.ic.ac.uk and ftp.adelaide.edu.au All prices, availability, and other statements relating to Sun or third party products are valid in the U.S. only. Please contact your local Sales Representative for details of pricing and product availability in your region. Descriptions of, or references to products or publications within SunFlash does not imply an endorsement of that product or publication by Sun Microsystems. Send brief articles (e.g. third party announcements) and include contact information (non-800#, fax #, email, etc) to: John McLaughlin, SunFlash editor, flash@Sun.COM. +1 305 351 4909