'The world is moving to open source innovation, and Sun continues to lead that revolution,' said Jonathan Schwartz yesterday, as Sun reported its Q3 fiscal 2008 results. 'We continue to invest in the future created by open alternatives to proprietary technologies, best exemplified by the acquisition of MySQL,' Schwartz added.

"The U.S. economy presented Sun with significant challenges in the third quarter, masking our progress in developing nations and economies across the world," Schwartz continued. "With double digit year-over-year growth in India and Brazil, and triple digit billings year-over-year growth in our energy efficient, Solaris-based Chip Multi-Threading (CMT) systems, Sun made considerable progress during the quarter."

Net loss for the third quarter of fiscal 2008 on a GAAP basis was $34M, or ($0.04) per share, as compared with net income of $67M, or $0.07 per share, for the third quarter of fiscal 2007.

Sschwartz reported year-over-year revenue growth in 12 out of its 16 sales geographies during the third quarter, with double-digit revenue growth in key international markets across EMEA, Asia Pacific and the International Americas.

In this quarter Sun closed of two significant acquisitions: MySQL, the world's most popular open source database provider, and innotek, whose VirtualBox products provide free desktop virtualization.