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

[MD1] Apple Reports Fourth Fiscal Quarter Results

Apple Reports Fourth Fiscal Quarter Results

Quarterly sales to U.S. education customers top $500 million Company
progresses with cost-cutting initiatives Quarterly loss before special
charges half that of prior quarter

CUPERTINO, California--Oct. 15, 1997--Apple Computer, Inc. today announced
results of its fourth fiscal quarter ended Sept. 26, 1997. For the quarter,
Apple's revenues were $1.6 billion, a decrease of 30 percent from the
fourth quarter a year ago, and a sequential decrease of 7 percent from the
quarter ended June 27, 1997. International revenues represented 42 percent
of the quarterly total. Gross margins were 20 percent, compared to 22
percent in the year ago quarter and 20 percent in the June 1997 quarter.

The Company continued to lower its breakeven level by reducing recurring
operating expenses to $353 million in the fourth quarter, compared to $505
million in the year-ago-quarter and $408 million in the June quarter.

Also included in the current quarter's results were a $62 million charge to
increase the Company's restructuring reserves, as well as a $75 million
write-off related to the Company's purchase of the Mac OS license from
Power Computing Corporation.

The Company's net loss for the quarter was $161 million, or $(1.26) per
share, compared with a net profit of $25 million, or $.20 a share, in the
same quarter a year ago. Without the charges related to restructuring and
the Power Computing transaction, the Company's net loss for the quarter
would have been $24 million, or $(.19) per share, a sequential improvement
from the $56 million net loss, or $(.44) per share, posted in the June
quarter.

"Apple's fourth fiscal quarter was marked by sweeping changes, from the
resignation of our CEO to the installation of new board members to
significant developments in our marketing programs and industry
relationships," said Apple Chief Financial Officer Fred Anderson. "Amidst
this change, we've continued to make excellent progress with our
restructuring initiatives, having reduced quarterly operating expenses of a
recurring nature by an additional $55 million since the June quarter."

"The July introduction of Mac OS 8 has resulted in record sales, covering
two million seats to date," added Anderson. "Our U.S. education business
contributed over half a billion dollars in revenues during the quarter, and
we saw sequential improvement in both business and consumer sales in the
U.S. However, we were disappointed by sluggish demand outside the U.S.,
particularly in Japan."

"We remain focused on our primary goal of returning Apple to sustainable
profitability," said Anderson. "Our goal for fiscal 1998 is to continue to
reduce Apple's breakeven point through a combination of further expense
reductions and gross margin improvements."

For the Company's fiscal year ended Sept. 26, 1997, revenues were $7.1
billion, a 28 percent percent decrease from the prior year. The net loss
for the year was $1.0 billion, or $(8.29) per share, compared with a net
loss of $816 million, or $(6.59) per share, in fiscal 1996. Included in the
fiscal 1997 loss were restructuring charges of $217 million as well as $450
million in writeoffs related to the acquisition of Next Software, Inc. and
the purchase of the Mac OS license from Power Computing Corporation.

For the year, international revenues accounted for 50 percent of Apple's
net sales, compared to 52 percent in fiscal 1996.

The statements regarding the goals of reducing the breakeven level and
returning the Company to sustainable profitability are forward-looking and
involve risks and uncertainties. Potential risks and uncertainties include,
without limitation, continued competitive pressures in the marketplace; the
effect competitive factors and the Company's reaction to them may have on
consumer and business buying decisions with respect to the Company's
products; the consequences competitive factors and buying decisions may
have on current inventory valuations; the ability of the Company to make
timely delivery of successful technological innovations to the marketplace;
the effect of any future losses on the Company's needs for liquidity; the
effect of the announced business restructuring on the future performance of
the Company, especially the performance of the Company's employees; and the
need for any future restructuring, and the effect that it might have on the
performance of the Company. More information on potential factors that
could affect the Company's financial results is included in the Company's
Form 10-Q for the third fiscal quarter and will also be included in the
Company's Form 10-K for the 1997 fiscal year, to be filed with the SEC.

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 (NASDAQ:AAPL) 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.

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

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

 
AAPL
$97.67
Apple Inc.
+1.41
MSFT
$43.63
Microsoft Corpora
+0.89
GOOG
$511.17
Google Inc.
-13.34

MacTech Search:
Community Search:

Software Updates via MacUpdate

Coda 2.5 - One-window Web development su...
Coda is a powerful Web editor that puts everything in one place. An editor. Terminal. CSS. Files. With Coda 2, we went beyond expectations. With loads of new, much-requested features, a few... Read more
Arq 4.6.1 - Online backup to Google Driv...
Arq is super-easy online backup for the Mac. Back up to your own Google Drive storage (15GB free storage), your own Amazon Glacier ($.01/GB per month storage) or S3, or any SFTP server. Arq backs up... Read more
Airfoil 4.8.10 - Send audio from any app...
Airfoil allows you to send any audio to AirPort Express units, Apple TVs, and even other Macs and PCs, all in sync! It's your audio - everywhere. With Airfoil you can take audio from any... Read more
Apple iMovie 10.0.6 - 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
OnyX 2.8.8 - Maintenance and optimizatio...
OnyX is a multifunctional utility for OS X. It allows you to verify the startup disk and the structure of its System files, to run miscellaneous tasks of system maintenance, to configure the hidden... Read more
Parallels Desktop 10.1 - Run Windows app...
Parallels Desktop is simply the world's bestselling, top-rated, and most trusted solution for running Windows applications on your Mac. With Parallels Desktop for Mac, you can seamlessly run both... Read more
Apple Keynote 6.5 - Apple's present...
Apple Keynote makes it simple to create and deliver beautiful presentations. Powerful tools and dazzling effects bring your ideas to life. You can work seamlessly between Mac and iOS devices. And... Read more
OmniPlan 2.3.7 - Robust project manageme...
With OmniPlan, you can create logical, manageable project plans with Gantt charts, schedules, summaries, milestones, and critical paths. Break down the tasks needed to make your project a success,... Read more
Flavours 1.1.16 - Create and apply theme...
Flavours is a Mac application that allow users to create, apply and share beautifully designed themes. Classy Give your Mac a gorgeous new look by applying delicious themes! Easy Unleash your... Read more
Duplicate Annihilator 5.1.0 - Find and d...
Duplicate Annihilator takes on the time-consuming task of comparing the images in your iPhoto library using effective algorithms to make sure that no duplicate escapes. Duplicate Annihilator detects... Read more

Latest Forum Discussions

See All

My Very Hungry Caterpillar (Education)
My Very Hungry Caterpillar 1.0.0 Device: iOS Universal Category: Education Price: $3.99, Version: 1.0.0 (iTunes) Description: Care for your very own Very Hungry Caterpillar! My Very Hungry Caterpillar will captivate you as he crawls... | Read more »
Dungeon Dick (Games)
Dungeon Dick 1.1 Device: iOS Universal Category: Games Price: $.99, Version: 1.1 (iTunes) Description: Dungeon Dick is a fantasy adventure where you must discover the wicked plot to destroy the lands . 'Fling' at your foes and land... | Read more »
Here’s How the Apple Watch Could Transfo...
With the Apple Watch’s generic release date of, “early 2015” hovering on the horizon, it’s only a matter of time before gamers begin to ask “What’s in it for us?” The obvious choice would be to place entire games directly on the face of the watch,... | Read more »
Republique Episode 3: Ones & Zeroes...
Republique Episode 3: Ones & Zeroes is Available Now Posted by Rob Rich on October 17th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Loot Raiders Review
Loot Raiders Review By Campbell Bird on October 17th, 2014 Our Rating: :: PRESS BUTTON, GET LOOTUniversal App - Designed for iPhone and iPad This menu-based loot game is suitable to compel those with pretty extreme loot lust.   | Read more »
Angry Birds are Crashing Puzzle & Dr...
Angry Birds are Crashing Puzzle & Dragons Next Week Posted by Rob Rich on October 17th, 2014 [ permalink ] Next week, Puzzle & Dragons is getting a little angry. Because, you know, Angry Birds. It’s a… a pun. I thought… never mind. | Read more »
Incandescence Review
Incandescence Review By Andrew Fisher on October 17th, 2014 Our Rating: :: ALL TAPPED OUTUniversal App - Designed for iPhone and iPad Incandescence promises intense tapping action, but isn’t particularly fun.   | Read more »
Lion Pig (Games)
Lion Pig 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: "Leaving aside the biology of how a pig and a lion might meet, fall in love, and create this curious cross-breed, Lion Pig is a... | Read more »
Zero Lives (Games)
Zero Lives 1.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0 (iTunes) Description: Zero Lives is a puzzle game. Simple and elegant at its core but deep and captivating the more you play. Each puzzle will challenge... | Read more »
#SUPERHYPER (Games)
#SUPERHYPER 001 Device: iOS Universal Category: Games Price: $.99, Version: 001 (iTunes) Description: "This is a game that fans of challenging minimalist arcade games, not to mention pixel art, should keep an eye on" - Touch Arcade "... | Read more »

Price Scanner via MacPrices.net

Apple Pay Available to Millions of Visa Cardh...
Visa Inc. brings secure, convenient payments to iPad Air 2 and iPad mini 3as well as iPhone 6 and 6 Plus. Starting October 20th, eligible Visa cardholders in the U.S. will be able to use Apple Pay,... Read more
Textkraft Pocket – the missing TextEdit for i...
infovole GmbH has announced the release and immediate availability of Textkraft Pocket 1.0, a professional text editor and note taking app for Apple’s iPhone. In March 2014 rumors were all about... Read more
C Spire to offer iPad Air 2 and iPad mini 3,...
C Spire on Friday announced that it will offer iPad Air 2 and iPad mini 3, both with Wi-Fi + Cellular, on its 4G+ LTE network in the coming weeks. C Spire will offer the new iPads with a range of... Read more
Belkin Announces Full Line of Keyboards and C...
Belkin International has unveiled a new lineup of keyboard cases and accessories for Apple’s newest iPads, featuring three QODE keyboards and a collection of thin, lightweight folios for both the... Read more
Verizon offers new iPad Air 2 preorders for $...
Verizon Wireless is accepting preorders for the new iPad Air 2, cellular models, for $100 off MSRP with a 2-year service agreement: - 16GB iPad Air 2 WiFi + Cellular: $529.99 - 64GB iPad Air 2 WiFi... Read more
Price drops on refurbished Mac minis, now ava...
The Apple Store has dropped prices on Apple Certified Refurbished previous-generation Mac minis, with models now available starting at $419. Apple’s one-year warranty is included with each mini, and... Read more
Apple refurbished 2014 MacBook Airs available...
The Apple Store has Apple Certified Refurbished 2014 MacBook Airs available for up to $180 off the cost of new models. An Apple one-year warranty is included with each MacBook, and shipping is free.... Read more
Refurbished 2013 MacBook Pros available for u...
The Apple Store has Apple Certified Refurbished 13″ and 15″ MacBook Pros available starting at $929. Apple’s one-year warranty is standard, and shipping is free: - 13″ 2.5GHz MacBook Pros (4GB RAM/... Read more
WaterField Designs Unveils Outback iPad Slip...
Fresh on the heels of Apple’s announcement Thursday, WaterField Designs unveils its new Outback Slip Case for the iPad Air 2 and iPad mini 3 — a custom-fitted case for the just-announced Apple iPads... Read more
Apple Introduces iPad Air 2 & iPad mini 3...
Apple on Thursday introduced iPad Air 2, slimmed down again to just 6.1 mm, and weighing less than a pound. iPad Air 2 also features an improved Retina display claimed to deliver enhanced contrast... Read more

Jobs Board

Position Opening at *Apple* - Apple (United...
**Job Summary** At the Apple Store, you connect business professionals and entrepreneurs with the tools they need in order to put Apple solutions to work in their Read more
Position Opening at *Apple* - Apple (United...
**Job Summary** The Apple Store is a retail environment like no other - uniquely focused on delivering amazing customer experiences. As an Expert, you introduce people Read more
Position Opening at *Apple* - Apple (United...
**Job Summary** As businesses discover the power of Apple computers and mobile devices, it's your job - as a Solutions Engineer - to show them how to introduce these Read more
Position Opening at *Apple* - Apple (United...
…Summary** As a Specialist, you help create the energy and excitement around Apple products, providing the right solutions and getting products into customers' hands. You Read more
Project Manager, *Apple* Financial Services...
**Job Summary** Apple Financial Services (AFS) offers consumers, businesses and educational institutions ways to finance Apple purchases. We work with national and Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.