[MD1] Apple Reports First Fiscal Quarter Results
TweetFollow Us on Twitter

[MD1] Apple Reports First Fiscal Quarter Results

Apple Reports First Fiscal Quarter Results

CUPERTINO, California--Jan. 14, 1998--Apple Computer, Inc. today announced
financial results for its fiscal 1998 first quarter which ended Dec. 26,
1997. For the quarter, the Company generated revenues of $1.6 billion and
unit sales of 635,000. The Company recorded a quarterly net profit of $47
million, resulting in basic and diluted earnings per share of $.37 and
$.33, respectively. Apple recorded a net loss of $161 million, or $(1.26)
per share, in the September quarter, and recorded a net loss of $120
million, or $(.96) per share, in the year-ago quarter.

The Company achieved gross margins of 22 percent during the quarter,
compared to 20 percent in the September quarter and 19 percent in the
year-ago quarter. International sales accounted for 50 percent of the
Company's quarterly revenues.

The profitable results were buoyed by the successful introduction of the
Company's Power Macintosh G3 computers on November 10. Over 133,000 units
of the G3 systems shipped during the quarter, rendering the G3 launch the
most successful in the Company's history. The Company also continued to
drive down operating expenses of a recurring nature to $313 million,
compared to $353 million in the September quarter and $521 million in the
year-ago quarter.

"The December quarter results reflect the benefits of the disciplined focus
that Apple has undertaken in recent months," said Apple interim CEO Steve
Jobs. "We've concentrated on providing the powerful products our customers
want at competitive prices, and we continue to streamline our business and
work with industry partners to facilitate this focus. Returning Apple to
sustainable profitability is the Company's number one objective for fiscal
1998, and we believe we're making great progress toward that goal."

"We're extremely pleased with the quality of the quarter's earnings," said
Apple CFO Fred Anderson. "Not only did we achieve a solid operating profit,
but our improving asset management resulted in positive cash flow from
operations of $143 million."

Apple Computer, Inc. ignited the personal computer revolution in the 1970s
with the Apple II, and reinvented the personal computer in the 1980s with
the Macintosh. Apple is now recommitted to its original mission - to bring
the best personal computing products and support to students, educators,
designers, scientists, engineers, businesspersons and consumers in over 140
countries around the world.

The statements in this release regarding sustainable profitability and
improving asset management are forward looking and subject to risk and
uncertainty, and future results could differ materially from our forecasts.
For a detailed discussion of factors that may affect the Company's
operating results, interested parties should review the Company's SEC
reports, including Apple's Annual Report on Form 10-K for the year ended
September 26, 1997, as well as the Form 10-Q for the quarter ended December
26, 1997, to be filed with the SEC.

Contacts:
Katie Cotton
(408) 974-7269
email: katiec@apple.com

Investor Relations Contact:
Nancy Paxton
(408) 974-5420
email: paxton1@apple.com

------------------------------------------------------------------

APPLE COMPUTER, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollars in millions, except per share amounts)

THREE MONTHS ENDED

December 26, December 27,

1997 1996

Net sales $1,578 $ 2,129

Costs and expenses:

Cost of sales 1,225 1,732

Research and development 79 149

Selling, general and administrative 234 372

1,538 2,253

Operating income (loss) 40 (124)

Interest and other income
(expense), net 7 4

Income (loss) before benefit from
income taxes 47 (120)

Provision (benefit) from income taxes -- --

Net income (loss) $47 $ (120)

==================================================================

Basic earnings (loss)
per common share $0.37 $ (0.96)

==================================================================

Diluted earnings (loss) per common $0.33 $ (0.96)
and common equivalent share

==================================================================

Common shares used in the
calculations of basic
earnings (loss) per share
(in thousands) 127,989 124,532

Common and common equivalent
shares used in the calculations
of diluted earnings (loss) per
share (in thousands) 139,839 124,532

=================================================================

APPLE COMPUTER, INC.
CONSOLIDATED BALANCE SHEETS
ASSETS
(In millions)

December 26, September 26,
1997 1997
(Unaudited)

Current assets:
Cash and cash equivalents $1,193 $1,230
Short-term investments 434 229
Accounts receivable, net of
allowance for doubtful
accounts of $96 ($99 at
September 26, 1997) 902 1,035

Inventories:
Purchased parts 99 141
Work in process 5 15
Finished goods 300 281

404 437

Deferred tax assets 233 259
Other current assets 207 234

Total current assets 3,373 3,424

Property, plant, and equipment:
Land and buildings 402 453
Machinery and equipment 416 460
Office furniture and equipment 100 110
Leasehold improvements 151 172

1,069 1,195

Accumulated depreciation and
amortization (640) (709)

Net property, plant, and equipment 429 486

Other assets 324 323

$4,126 $ 4,233

=================================================================

APPLE COMPUTER, INC.
CONSOLIDATED BALANCE SHEETS (Continued)
LIABILITIES AND SHAREHOLDERS' EQUITY
(Dollars in millions)

December 26, September 26,

1997 1997
(Unaudited)

Current liabilities:

Notes payable to banks $ 24 $ 25
Accounts payable 655 685
Accrued compensation and employee
benefits 92 99
Accrued marketing and
distribution 261 278
Accrued warranty and related 126 128
Accrued restructuring costs 144 180
Other current liabilities 367 423

Total current liabilities 1,669 1,818

Long-term debt 952 951
Deferred tax liabilities 261 264

Shareholders' equity:

Series A non-voting convertible
preferred stock,
no par value; 150,000 shares
authorized, issued and outstanding 150 150

Common stock, no par value;
320,000,000 shares authorized;
128,018,985 shares issued and
outstanding at December 26, 1997
(127,949,220 shares at
September 26, 1997) 499 498
Retained earnings 636 589
Other (41) (37)

Total shareholders' equity 1,244 1,200

$4,126 $ 4,233

 

Community Search:
MacTech Search:

Software Updates via MacUpdate

Microsoft Remote Desktop 8.0.16 - Connec...
With Microsoft Remote Desktop, you can connect to a remote PC and your work resources from almost anywhere. Experience the power of Windows with RemoteFX in a Remote Desktop client designed to help... Read more
Spotify 1.0.4.90. - Stream music, create...
Spotify is a streaming music service that gives you on-demand access to millions of songs. Whether you like driving rock, silky R&B, or grandiose classical music, Spotify's massive catalogue puts... Read more
djay Pro 1.1 - Transform your Mac into a...
djay Pro provides a complete toolkit for performing DJs. Its unique modern interface is built around a sophisticated integration with iTunes and Spotify, giving you instant access to millions of... Read more
Vivaldi 1.0.118.19 - Lightweight browser...
Vivaldi browser. In 1994, two programmers started working on a web browser. Our idea was to make a really fast browser, capable of running on limited hardware, keeping in mind that users are... Read more
Stacks 2.6.11 - New way to create pages...
Stacks is a new way to create pages in RapidWeaver. It's a plugin designed to combine drag-and-drop simplicity with the power of fluid layout. Features: Fluid Layout: Stacks lets you build pages... Read more
xScope 4.1.3 - Onscreen graphic measurem...
xScope is powerful set of tools that are ideal for measuring, inspecting, and testing on-screen graphics and layouts. Its tools float above your desktop windows and can be accessed via a toolbar,... Read more
Cyberduck 4.7 - FTP and SFTP browser. (F...
Cyberduck is a robust FTP/FTP-TLS/SFTP browser for the Mac whose lack of visual clutter and cleverly intuitive features make it easy to use. Support for external editors and system technologies such... Read more
Labels & Addresses 1.7 - Powerful la...
Labels & Addresses is a home and office tool for printing all sorts of labels, envelopes, inventory labels, and price tags. Merge-printing capability makes the program a great tool for holiday... Read more
teleport 1.2.1 - Use one mouse/keyboard...
teleport is a simple utility to let you use one single mouse and keyboard to control several of your Macs. Simply reach the edge of your screen, and your mouse teleports to your other Mac! The... Read more
Apple iMovie 10.0.8 - Edit personal vide...
With an all-new design, Apple iMovie lets you enjoy your videos like never before. Browse your clips more easily, instantly share your favorite moments, and create beautiful HD movies and Hollywood-... Read more

Use Batting Average and the Apple Watch...
Batting Average, by Pixolini, is designed to help you manage your statistics. Every time you go to bat, you can use your Apple Watch to track  your swings, strikes, and hits. [Read more] | Read more »
Celebrate Studio Pango's 3rd Annive...
It is time to party, Pangoland pals! Studio Pango is celebrating their 3rd birthday and their gift to you is a new update to Pangoland. [Read more] | Read more »
Become the World's Most Important D...
Must Deliver, by cherrypick games, is a top-down endless-runner witha healthy dose of the living dead. [Read more] | Read more »
SoundHound + LiveLyrics is Making its De...
SoundHound Inc. has announced that SoundHound + LiveLyrics, will be one of the first third-party apps to hit the Apple Watch. With  SoundHound you'll be able to tap on your watch and have the app recognize the music you are listening to, then have... | Read more »
Adobe Joins the Apple Watch Lineup With...
A whole tidal wave of apps are headed for the Apple Watch, and Adobe has joined in with 3 new ways to enhance your creativity and collaborate with others. The watch apps pair with iPad/iPhone apps to give you total control over your Adobe projects... | Read more »
Z Steel Soldiers, Sequel to Kavcom'...
Kavcom has released Z Steel Soldiers, which continues the story of the comedic RTS originally created by the Bitmap Brothers. [Read more] | Read more »
Seene Lets You Create 3D Images With You...
Seene, by Obvious Engineering, is a 3D capture app that's meant to allow you to create visually stunning 3D images with a tap of your finger, and then share them as a 3D photo, video or gif. [Read more] | Read more »
Lost Within - Tips, Tricks, and Strategi...
Have you just downloaded Lost Within and are you in need of a guiding hand? While it’s not the toughest of games out there you might still want some helpful tips to get you started. [Read more] | Read more »
Entertain Your Pet With Your Watch With...
The Petcube Camera is a device that lets you use live video to check in on your pet, talk to them, and play with them using a laser pointer - all while you're away. And the Petcube app is coming to the Apple Watch, so you'll be able to hang out with... | Read more »
Now You Can Manage Your Line2 Calls With...
You'll be able to get your Line2 cloud phone service on the Apple Watch very soon. The watch app can send and receive messages using hands-free voice dictation, or by selecting from a list of provided responses. [Read more] | Read more »

Price Scanner via MacPrices.net

Intel Compute Stick: A New Mini-Computing For...
The Intel Compute Stick, a new pocket-sized computer based on a quad-core Intel Atom processor running Windows 8.1 with Bing, is available now through Intel Authorized Dealers across much of the... Read more
Heal to Launch First One-Touch House Call Doc...
Santa Monica, California based Heal, a pioneer in on-demand personal health care services — will offer the first one-touch, on-demand house call doctor app for the Apple Watch. Heal’s Watch app,... Read more
Mac Notebooks: Avoiding MagSafe Power Adapter...
Apple Support says proper usage, care, and maintenance of Your Mac notebook’s MagSafe power adapter can substantially increase the the adapter’s service life. Of course, MagSafe itself is an Apple... Read more
12″ Retina MacBook In Shootout With Air And P...
BareFeats’ rob-ART morgan has posted another comparison of the 12″ MacBook with other Mac laptops, noting that the general goodness of all Mac laptops can make which one to purchase a tough decision... Read more
FileMaker Go for iPad and iPhone: Over 1.5 Mi...
FileMaker has announced that its FileMaker Go for iPad and iPhone app has surpassed 1.5 million downloads from the iTunes App Store. The milestone confirms the continued popularity of the FileMaker... Read more
Sale! 13-inch 2.7GHz Retina MacBook Pro for $...
 Best Buy has the new 2015 13″ 2.7GHz/128GB Retina MacBook Pro on sale for $1099 – $200 off MSRP. Choose free shipping or free local store pickup (if available). Price for online orders only, in-... Read more
Minimalist MacBook Confirms Death of Steve Jo...
ReadWrite’s Adriana Lee has posted a eulogy for the “Digital Hub” concept Steve Jobs first proposed back in 2001, declaring the new 12-inch MacBook with its single, over-subscribed USB-C port to be... Read more
13-inch 2.7GHz Retina MacBook Pro for $1234 w...
Adorama has the 13″ 2.7GHz/128GB Retina MacBook Pro in stock for $1234.99 ($65 off MSRP) including free shipping plus a free LG external DVD/CD optical drive. Adorama charges sales tax in NY & NJ... Read more
13-inch 2.5GHz MacBook Pro available for $999...
 Adorama has the 13-inch 2.5GHz MacBook Pro on sale for $999 including free shipping plus NY & NJ sales tax only. Their price is $100 off MSRP. Read more
Save up to $600 with Apple refurbished Mac Pr...
The Apple Store is offering Apple Certified Refurbished Mac Pros for up to $600 off the cost of new models. An Apple one-year warranty is included with each Mac Pro, and shipping is free. The... Read more

Jobs Board

*Apple* Retail - Multiple Positions (US) - A...
Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, you're also the Read more
*Apple* Support Technician IV - Jack Henry a...
Job Description Jack Henry & Associates is seeking an Apple Support Technician. This position while acting independently, ensures the proper day-to-day control of Read more
*Apple* Client Systems Solution Specialist -...
…drive revenue and profit in assigned sales segment and/or region specific to the Apple brand and product sets. This person will work directly with CDW Account Managers Read more
*Apple* Software Support - Casper (Can work...
…experience . Full knowledge of Mac OS X and prior . Mac OSX / Server . Apple Remote Desktop . Process Documentation . Ability to prioritize multiple tasks in a fast pace Read more
*Apple* Software Support - Xerox Corporation...
…Imaging experience Full knowledge of Mac OS X and prior Mac OSX / Server Apple Remote Desktop Process Documentation Ability to prioritize multiple tasks in a fast pace Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.