[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
$111.01
Apple Inc.
+1.60
MSFT
$46.98
Microsoft Corpora
+1.24
GOOG
$509.20
Google Inc.
+4.31

MacTech Search:
Community Search:

Software Updates via MacUpdate

BBEdit 11.0.2 - Powerful text and HTML e...
BBEdit is the leading professional HTML and text editor for the Mac. Specifically crafted in response to the needs of Web authors and software developers, this award-winning product provides a... Read more
ExpanDrive 4.2.1 - Access cloud storage...
ExpanDrive builds cloud storage in every application, acts just like a USB drive plugged into your Mac. With ExpanDrive, you can securely access any remote file server directly from the Finder or... Read more
Adobe After Effects CC 2014 13.2 - Creat...
After Effects CC 2014 is available as part of Adobe Creative Cloud for as little as $19.99/month (or $9.99/month if you're a previous After Effects customer). After Effects CS6 is still available... Read more
Command-C 1.1.7 - Clipboard sharing tool...
Command-C is a revolutionary app which makes easy to share your clipboard between iOS and OS X using your local WiFi network, even if the app is not currently opened. Copy anything (text, pictures,... Read more
Tidy Up 4.0.2 - Find duplicate files and...
Tidy Up is a complete duplicate finder and disk-tidiness utility. With Tidy Up you can search for duplicate files and packages by the owner application, content, type, creator, extension, time... Read more
Typinator 6.3 - Speedy and reliable text...
Typinator turbo-charges your typing productivity. Type a little. Typinator does the rest. We've all faced projects that require repetitive typing tasks. With Typinator, you can store commonly used... Read more
GraphicConverter 9.5 - Graphics editor w...
GraphicConverter is an all-purpose image-editing program that can import 200 different graphic-based formats, edit the image, and export it to any of 80 available file formats. The high-end editing... Read more
Toast Titanium 12.0.1 - The ultimate med...
Toast Titanium goes way beyond the very basic burning in the Mac OS and iLife software, and sets the standard for burning CDs, DVDs, and now Blu-ray discs on the Mac. Create superior sounding audio... Read more
QuickBooks 2015 16.0.2.1422 R3 - Financi...
Save 20% on QuickBooks Pro for Mac today through this special discount link QuickBooks Pro 2013 helps you manage your business easily and efficiently. Organize your finances all in one place, track... Read more
Remotix 3.0.6 - Access all your computer...
Remotix is a fast and powerful application to easily access multiple Macs (and PCs) from your own Mac. Features: Complete Apple Screen Sharing support - including Mac OS X login, clipboard... Read more

Latest Forum Discussions

See All

Brothers in Arms 3: Sons of War Review
Brothers in Arms 3: Sons of War Review By Jennifer Allen on December 18th, 2014 Our Rating: :: FUN BUT PUSHYUniversal App - Designed for iPhone and iPad Brothers in Arms 3: Sons of War could be great fun, but its plethora of... | Read more »
The Snow is Falling on the French Countr...
The Snow is Falling on the French Countryside of Carcassonne’s Newest Update Posted by Jessica Fisher on December 18th, 2014 [ permalink ] < | Read more »
Creatures Such As We Review
Creatures Such As We Review By Jennifer Allen on December 18th, 2014 Our Rating: :: INTERESTING DISCUSSIONSUniversal App - Designed for iPhone and iPad Taking a more sedate approach to interactive fiction, Creatures Such As We... | Read more »
Stair: Slide the Blocks to Ascend (Game...
Stair: Slide the Blocks to Ascend 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: Slide the blocks to ascend! Stair: Slide the Blocks to Ascend | Read more »
Give It Up! (Games)
Give It Up! 1.0 Device: iOS Universal Category: Games Price: $.99, Version: 1.0 (iTunes) Description: GIVE IT UP is a rather hard game where you have to assist this cheerful, singing Blob in jumping through 9 different tracks.So far... | Read more »
The Drive : Devil's Run (Games)
The Drive : Devil's Run 1.0 Device: iOS Universal Category: Games Price: $.99, Version: 1.0 (iTunes) Description: ON THE ROAD AGAIN! The Drive - Devil’s Run is classic point to point style racing game that pays homage to the classics... | Read more »
Procreate Pocket (Entertainment)
Procreate Pocket 1.01 Device: iOS iPhone Category: Entertainment Price: $2.99, Version: 1.01 (iTunes) Description: Create - anytime, anywhere. Made by the developers of the award-winning Procreate® for iPad®, Procreate Pocket™ allows... | Read more »
IRON FINGER - Mini Games Championship (...
IRON FINGER - Mini Games Championship 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: Quick to play, easy to learn yet hard to master.. TAP, SWIPE & TILT your way through mini games that... | Read more »
Pentaction: Medieval (Games)
Pentaction: Medieval 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: Pentaction: Medieval is a turn-based strategy board-game about chance and skill on the battlefield. Take control of your... | Read more »
Hipstify Review
Hipstify Review By Jennifer Allen on December 17th, 2014 Our Rating: :: COOL FILTERSUniversal App - Designed for iPhone and iPad Add filters, quotes, and fancy frames to your images, thanks to Hipstify.   | Read more »

Price Scanner via MacPrices.net

KMI MIDI K-Board Great Gift for Amateur &...
The K-Board is a MIDI Nano keyboard for music creation for iPad, Android, And computers; the easiest way to make music with iPads & Android tablets, and Mac, Windows, or Linux computers. Ultra-... Read more
Amazon offers 15-inch 2.2GHz Retina MacBook P...
 Amazon.com has the 15″ 2.2GHz Retina MacBook Pro on sale for $1699 including free shipping. Their price is $300 off MSRP. Stock is limited, so act now if you’re interested. Read more
Holiday sales continue: MacBook Pros for up t...
 B&H Photo has new MacBook Pros on sale for up to $300 off MSRP as part of their Holiday pricing. Shipping is free, and B&H charges NY sales tax only: - 15″ 2.2GHz Retina MacBook Pro: $1699... Read more
Google Search App For iOS Gets A Major Makeov...
Google has given iOS users an early Christmas present with a substantial update of it’s not-very-often-upgraded Google Search app. Google Search has been my go-to tool for Web searches since it was... Read more
ShopKeep Apple Pay And Chip Card Reader Avail...
ShopKeep, a cloud-based technology provider to more than 10,000 small business owners to manage retail shops and restaurants with iPads, has released its new Apple Pay and chip card reader. This... Read more
Holiday sale! 27-inch 5K iMac for $2299, save...
 B&H Photo has the 27″ 3.5GHz 5K iMac in stock today and on sale for $2299 including free shipping plus NY sales tax only. Their price is $200 off MSRP, and it’s the lowest price available for... Read more
Holiday Sale! 3.7GHz Quad Core Mac Pro availa...
 B&H Photo has the 3.7GHz Quad Core Mac Pro on sale for $2599 including free shipping plus NY sales tax only. Their price is $400 off MSRP, and it’s the lowest price for this model from any... Read more
iPhone 6 Number 3 Canadian Google Search Of 2...
CTVNews.ca reports that Apple’s iPhone 6 was the third highest-trending Google Canada search topic of 2014, exceeded only by Robin Williams largely after his death by suicide in August, and the FIFA... Read more
New iPad mini 3 Counter-Top & Wall Mount...
newMacgadgets has announced new secure all-acrylic displays for the iPad mini 3 (also works fine with the mini 2, last year’s iPad mini With Retina Display, and the original iPad mini). The new iPad... Read more
Holiday sales continue, MacBook Airs for up t...
B&H Photo has 2014 MacBook Airs on sale for up to $120 off MSRP, for a limited time, for the Thanksgiving/Christmas Holiday shopping season. Shipping is free, and B&H charges NY sales tax... 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* 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* Retail - Multiple Positions (US) - A...
Job Description: Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
*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
Project Manager / Business Analyst, WW *Appl...
…a senior project manager / business analyst to work within our Worldwide Apple Fulfillment Operations and the Business Process Re-engineering team. This role will work Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.