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

[MD1] Apple Reports Second Fiscal Quarter Results

Apple Reports Second Fiscal Quarter Results

Company Recaps Extensive New Product Offerings and Restructuring Progress

CUPERTINO, Calif.--April 16, 1997--Apple Computer, Inc. today announced
financial results for the Company's fiscal 1997 second quarter ended March
28, 1997. Revenues for the quarter were $1.6 billion, compared to $2.1
billion in the quarter ended Dec. 27, 1996 and $2.2 billion in the quarter
ended March 29, 1996. International sales accounted for 49 percent of total
revenues in the current quarter.

As previously indicated, the Company incurred two large charges of a
non-operating nature during the quarter. Pursuant to generally accepted
accounting principles, the Company recorded a charge of $375 million for
the write-off of in-process research and development activity related to
its Feb. 4, 1997 acquisition of NeXT Software, Inc.

Additionally, the Company recorded a charge of $155 million to increase
reserves to cover the costs of restructuring activities previously
announced by the Company on March 14, 1997.

The Company's total loss for the quarter was $708 million, or $(5.64) per
share, compared to a net loss of $120 million, or $(.96) per share in the
December 1996 quarter and a net loss of $740 million, or $(5.99) per share,
in the year-ago quarter. Exclusive of the charges for restructuring and the
write-off of in-process research and development, the Company's current
quarter loss from operations was $186 million, or $(1.48) per share.

Gross margins for the quarter were 19 percent, compared to 19 percent in
the December quarter, and compared to -19 percent (or 9 percent before
inventory adjustments) in the year-ago quarter.

Aside from the charges for restructuring and the write-off of in-process
research and development, operating expenses for the quarter were $489
million, down $32 million from the December quarter and down $65 million
from the year ago quarter.

"While the operating results are disappointing, we made significant
progress toward executing our strategic plans during the quarter," said
Apple chairman and chief executive officer Dr. Gilbert F. Amelio. "We've
streamlined our organization and narrowed our focus, we're divesting
non-core assets, and we're executing a plan to reduce annual operating
expenses by $500 million. We've also made great progress toward
strengthening Apple's competitive position by introducing several exciting
new products to the market, and we've completed the NeXT acquisition,
paving the way for delivery of our modern OS, code-named 'Rhapsody.'"

"We experienced continued success in asset management during the quarter,"
said Apple executive vice president and chief financial officer Fred
Anderson. "Our cash balance at the end of Q2 was in excess of $1.4 billion,
our inventories were just over $500 million, and despite the quarter's
loss, we generated positive cash flow from operations."

"We expect to see rapid improvements in the Company's financial performance
as the results of restructuring kick in," added Anderson. "We anticipate
higher revenues and a significantly reduced operating loss in the Company's
third fiscal quarter and continued progress toward our goal of returning to
profitability in the fourth quarter."

New Products

Apple introduced an array of new products in recent weeks. On April 4, the
Company announced the Power Macintosh 6500 series of computers for home and
small business customers, including the first 300 MHz system to hit the
personal computer market. In addition, the Company introduced two
PC-compatible computers--the Power Macintosh 7300/180, which includes a 166
MHz Intel Pentium processor; and the Power Macintosh 4400/200, which
includes a 133 MHz Cyrix PR166 6x86 processor.

Earlier in the quarter, Apple announced the Macintosh PowerBook 3400
series, featuring the first 240 MHz notebook computer on the market, as
well as a new line of Power Macintosh computers for business, professional
publishing, and Internet/media authoring.

For education customers, Apple introduced its most comprehensive lineup of
new products in 20 years, including the eMate 300, three powerful
all-in-one desktop models, two models in a powerful new tower design, and
three new solution bundles for secondary schools.

Claris Corporation, Apple's wholly-owned software subsidiary, achieved
record-breaking revenues of $70 million during the quarter. Revenue growth
was driven in large part by an unprecedented level of operating system
upgrades to Mac OS 7.6, introduced in January.

"In the last three months, we executed one of the most exciting and
comprehensive series of product introductions in the history of Apple,"
said Apple executive vice president of marketing Guerrino De Luca. "These
products demonstrate the ongoing innovation at Apple and our commitment to
providing distinctive, powerful, easy-to-use products to meet the needs of
our customers."

Except for the historical information contained herein, the statements
regarding establishing competitive leadership, effecting innovation,
continuing focus on certain industry growth areas, reduction of the
Company's operating expenses and losses, and the timing of execution of the
Company's business plans are forward-looking statements that 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 Company's ability to successfully integrate the
personnel, products and operations of NeXT Software; the ability of the
Company to make timely delivery of successful technological innovations to
the marketplace; the ability of the Company to successfully resolve its
quality issues; 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-K for the 1996 fiscal year and will also
be included in the Company's Form 10-Q for the second fiscal quarter, to be
filed with the SEC.

Apple Computer, Inc., a recognized innovator in the information industry
and leader in multimedia technologies, creates powerful solutions based on
easy-to-use personal computers, servers, peripherals, software, handheld
computers and Internet content. Headquartered in Cupertino, California,
Apple develops, manufactures, licenses and markets solutions, products,
technologies and services for business, education, consumer, entertainment,
scientific and engineering and government customers in more than 140

Katie Cotton
Apple Computer, Inc.
(408) 974-7269
email: katiec@apple.com

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

Apple's home page on the World Wide Web:

Apple, the Apple logo, Macintosh, Power Macintosh, and PowerBook are
registered trademarks and eMate is a trademark of Apple Computer, Inc.
Additional company and product names may be trademarks or registered
trademarks of the individual companies and are respectfully acknowledged.


Community Search:
MacTech Search:

Software Updates via MacUpdate

MacPilot 8.0 - Enable over 1,200 hidden...
MacPilot gives you the power of UNIX and the simplicity of Macintosh, which means a phenomenal amount of untapped power in your hands! Use MacPilot to unlock over 1,200 features, and access them all... Read more
Typinator 6.7 - 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
Adobe Lightroom 6.2 - Import, develop, a...
Adobe Lightroom is available as part of Adobe Creative Cloud for as little as $9.99/month bundled with Photoshop CC as part of the photography package. Lightroom 6 is also available for purchase as a... Read more
ForeverSave 2.1.4 - Universal auto-save...
ForeverSave auto-saves all documents you're working on while simultaneously doing backup versioning in the background. Lost data can be quickly restored at any time. Losing data, caused by... Read more
VueScan 9.5.27 - Scanner software with a...
VueScan is a scanning program that works with most high-quality flatbed and film scanners to produce scans that have excellent color fidelity and color balance. VueScan is easy to use, and has... Read more
AirPort Utility 6.3.6 - Set up and manag...
Note: Most recent release available only within OS X 10.11 El Capitan update. Use AirPort Utility to set up and manage your Wi-Fi network and AirPort base stations, including AirPort Express, AirPort... Read more
Quicksilver 1.3.1 - Application launcher...
Quicksilver is a light, fast and free Mac application that gives you the power to control your Mac with keystrokes alone. Quicksilver allows you to find what you need quickly and easily, then act... Read more
Tidy Up (Five Users) 4.1.5 - Find duplic...
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
Mellel 3.4.3 - The word processor of cho...
Mellel is the leading word processor for OS X and has been widely considered the industry standard since its inception. Mellel focuses on writers and scholars for technical writing and multilingual... Read more
Skype - Voice-over-internet p...
Skype allows you to talk to friends, family and co-workers across the Internet without the inconvenience of long distance telephone charges. Using peer-to-peer data transmission technology, Skype... Read more

Swords & Crossbones: An Epic Pirate...
Swords & Crossbones: An Epic Pirate Story 1.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0 (iTunes) Description: | Read more »
Camel Up (Games)
Camel Up 1.0.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0.0 (iTunes) Description: | Read more »
The Martian: Bring Him Home (Games)
The Martian: Bring Him Home 1.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0 (iTunes) Description: Based on the best selling novel and critically acclaimed film, THE MARTIAN tells the story of Astronaut Mark... | Read more »
This Week at 148Apps: September 21-30, 2...
Leap Into Fall With 148Apps How do you know what apps are worth your time and money? Just look to the review team at 148Apps. We sort through the chaos and find the apps you're looking for. The ones we love become Editor’s Choice, standing out above... | Read more »
Tweetbot 4 for Twitter (Social Networki...
Tweetbot 4 for Twitter 4.0 Device: iOS Universal Category: Social Networking Price: $4.99, Version: 4.0 (iTunes) Description: *** 50% off for a limited time. *** | Read more »
Mori (Games)
Mori 1.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0 (iTunes) Description: Stop, rewind and unwind with Mori. Time is always running, take a moment to take control. Mori is an action puzzle game about infinitely... | Read more »
100 Years' War (Games)
100 Years' War 1.0 Device: iOS Universal Category: Games Price: $3.99, Version: 1.0 (iTunes) Description: | Read more »
Tower in the Sky (Games)
Tower in the Sky 0.0.60 Device: iOS Universal Category: Games Price: $1.99, Version: 0.0.60 (iTunes) Description: | Read more »
hocus. (Games)
hocus. 1.0.0 Device: iOS Universal Category: Games Price: $.99, Version: 1.0.0 (iTunes) Description: New, polished, mind-bending, minimal puzzle game with dozens of levels and extra-ordinary design Features:- Beautifully crafted... | Read more »
Mos Speedrun 2 (Games)
Mos Speedrun 2 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: Mos is back, in her biggest and most exciting adventure ever! Wall-jump to victory through 30 mysterious, action packed levels... | Read more »

Price Scanner via MacPrices.net

13-inch 2.5GHz MacBook Pro (refurbished) avai...
Apple has Certified Refurbished 13″ 2.5GHz MacBook Pros available for $829, or $270 off the cost of new models. Apple’s one-year warranty is standard, and shipping is free: - 13″ 2.5GHz MacBook Pros... Read more
27-inch 3.2GHz iMac on sale for $1689, save $...
Adorama has the 27″ 3.2GHz iMac on sale for $1689 including free shipping plus NY & NJ sales tax only. Their price is $110 off MSRP. Read more
12-inch Retina MacBooks on sale for up to $12...
B&H Photo has 12″ Retina MacBooks in stock today and on sale for up to $120 off MSRP. B&H will include free shipping, and there is NY sales tax only: - 12″ 1.1GHz Gray Retina MacBook: $1224 $... Read more
Tablets Shaping Up for Growth in 2016 – Strat...
Observing that Apple, Samsung, and Microsoft have refocused what tablet computers can do, market analysis firm Strategy Analytics believes there is immense opportunity for new and replacement sales... Read more
Apple Interbrand’s Number One Most Valuable G...
Apple and Google hold aced #1 and #2 spots respectively in Interbrand’s 2015 Best Global Brands Report, leading all tech brands that now comprise more than a third of the entire rankings value.... Read more
Apple offering refurbished 2015 13-inch Retin...
Apple is offering Certified Refurbished 2015 13″ Retina MacBook Pros for up to $270 (15%) off the cost of new models. An Apple one-year warranty is included with each model, and shipping is free: -... Read more
Apple refurbished 2015 MacBook Airs available...
Apple has Certified Refurbished 2015 11″ and 13″ MacBook Airs (the latest models), available for up to $180 off the cost of new models. An Apple one-year warranty is included with each MacBook, and... Read more
Adobe Photoshop Elements 14 Gets Haze Removal...
The latest iteration of Adobe’s powerful consumer image editing appliction Photoshop Elements 14 analyzes your photo and removes background haze, so your shot looks sharp all the way to the horizon... Read more
Apple refurbished 15-inch Retina MacBook Pros...
Apple has Certified Refurbished 2015 15″ Retina MacBook Pros available for up to $380 off the cost of new models. An Apple one-year warranty is included with each model, and shipping is free: - 15″ 2... Read more
21-inch iMacs on sale for up to $120 off MSRP
B&H Photo has 21″ iMacs on sale for up to $100 off MSRP including free shipping plus NY sales tax only: - 21″ 1.4GHz iMac: $1029.99 $70 off - 21″ 2.7GHz iMac: $1229 $70 off - 21″ 2.9GHz iMac: $... Read more

Jobs Board

Touch Validation Design (EE) - *Apple* Watc...
**Job Summary** Help launch next-generation Touch Technologies in Apple products. The Touch Technology team develops cutting-edge Touch solutions and technologies that Read more
WW Sales Strategy & Program Manager, *Ap...
**Job Summary** Imagine what you could do here. At Apple , great ideas have a way of becoming great products, services, and customer experiences very quickly. Bring Read more
*Apple* TV Product Design Internship (Spring...
…the mechanical design effort associated with creating world-class products with the Apple TV PD Group. Responsibilities will include working closely with manufacturing, Read more
Product Design Engineer - *Apple* Watch - A...
**Job Summary** Product Design Engineer - WATCH ( Apple Watch) Be an integral part of a small and visible team of world-class Mechanical Engineers making Apple 's Read more
Senior Software System App Engineer, *Apple*...
**Job Summary** The Apple Watch system application team is looking for great software engineers who are comfortable working across all levels of the software stack. From Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.