[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
countries.

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:
http://www.apple.com/

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

Kodi 17.1. - Powerful media center tool...
Kodi (was XBMC) is an award-winning free and open-source (GPL) software media player and entertainment hub that can be installed on Linux, OS X, Windows, iOS, and Android, featuring a 10-foot user... Read more
Bookends 12.8 - Reference management and...
Bookends is a full-featured bibliography/reference and information-management system for students and professionals. Bookends uses the cloud to sync reference libraries on all the Macs you use.... Read more
Apple iTunes 12.6 - Play Apple Music and...
Apple iTunes lets you organize and stream Apple Music, download and watch video and listen to Podcasts. It can automatically download new music, app, and book purchases across all your devices and... Read more
Default Folder X 5.1.4 - Enhances Open a...
Default Folder X attaches a toolbar to the right side of the Open and Save dialogs in any OS X-native application. The toolbar gives you fast access to various folders and commands. You just click on... Read more
Amazon Chime 4.1.5587 - Amazon-based com...
Amazon Chime is a communications service that transforms online meetings with a secure, easy-to-use application that you can trust. Amazon Chime works seamlessly across your devices so that you can... Read more
CrossOver 16.2 - Run Windows apps on you...
CrossOver can get your Windows productivity applications and PC games up and running on your Mac quickly and easily. CrossOver runs the Windows software that you need on Mac at home, in the office,... Read more
Adobe Creative Cloud 4.0.0.185 - Access...
Adobe Creative Cloud costs $19.99/month for a single app, or $49.99/month for the entire suite. Introducing Adobe Creative Cloud desktop applications, including Adobe Photoshop CC and Illustrator CC... Read more
MegaSeg 6.0.2 - Professional DJ and radi...
MegaSeg is a complete solution for pro audio/video DJ mixing, radio automation, and music scheduling with rock-solid performance and an easy-to-use design. Mix with visual waveforms and Magic... Read more
Bookends 12.8 - Reference management and...
Bookends is a full-featured bibliography/reference and information-management system for students and professionals. Bookends uses the cloud to sync reference libraries on all the Macs you use.... Read more
Adobe Creative Cloud 4.0.0.185 - Access...
Adobe Creative Cloud costs $19.99/month for a single app, or $49.99/month for the entire suite. Introducing Adobe Creative Cloud desktop applications, including Adobe Photoshop CC and Illustrator CC... Read more

The best deals on the App Store this wee...
Deals, deals, deals. We're all about a good bargain here on 148Apps, and luckily this was another fine week in App Store discounts. There's a big board game sale happening right now, and a few fine indies are still discounted through the weekend.... | Read more »
The best new games we played this week
It's been quite the week, but now that all of that business is out of the way, it's time to hunker down with some of the excellent games that were released over the past few days. There's a fair few to help you relax in your down time or if you're... | Read more »
Orphan Black: The Game (Games)
Orphan Black: The Game 1.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0 (iTunes) Description: Dive into a dark and twisted puzzle-adventure that retells the pivotal events of Orphan Black. | Read more »
The Elder Scrolls: Legends is now availa...
| Read more »
Ticket to Earth beginner's guide: H...
Robot Circus launched Ticket to Earth as part of the App Store's indie games event last week. If you're not quite digging the space operatics Mass Effect: Andromeda is serving up, you'll be pleased to know that there's a surprising alternative on... | Read more »
Leap to victory in Nexx Studios new plat...
You’re always a hop, skip, and a jump away from a fiery death in Temple Jump, a new platformer-cum-endless runner from Nexx Studio. It’s out now on both iOS and Android if you’re an adventurer seeking treasure in a crumbling, pixel-laden temple. | Read more »
Failbetter Games details changes coming...
Sunless Sea, Failbetter Games' dark and gloomy sea explorer, sets sail for the iPad tomorrow. Ahead of the game's launch, Failbetter took to Twitter to discuss what will be different in the mobile version of the game. Many of the changes make... | Read more »
Splish, splash! The Pokémon GO Water Fes...
Niantic is back with a new festival for dedicated Pokémon GO collectors. The Water Festival officially kicks off today at 1 P.M. PDT and runs through March 29. Magikarp, Squirtle, Totodile, and their assorted evolved forms will be appearing at... | Read more »
Death Road to Canada (Games)
Death Road to Canada 1.0 Device: iOS Universal Category: Games Price: $7.99, Version: 1.0 (iTunes) Description: Get it now at the low launch price! Price will go up a dollar every major update. Update news at the bottom of this... | Read more »
Bean's Quest Beginner's Guide:...
Bean's Quest is a new take on both the classic platformer and the endless runner, and it's free on the App Store for the time being. Instead of running constantly, you can't stop jumping. That adds a surprising new level of challenge to the game... | Read more »

Price Scanner via MacPrices.net

Updated iPad Price Trackers
Scan our Apple iPad (and iPod touch) Price Trackers for the latest information on sales, bundles, and availability on systems from Apple’s authorized internet/catalog resellers. We update the... Read more
12-inch 32GB Space Gray iPad Pro on sale for...
B&H Photo has 12″ Space Gray 32GB WiFi Apple iPad Pros on sale for $50 off MSRP including free shipping. B&H charges sales tax in NY only: - 12″ Space Gray 32GB WiFi iPad Pro: $749 $50 off... Read more
2.6GHz Mac mini on sale for $559, $140 off MS...
Guitar Center has the 2.6GHz Mac mini (MGEN2LL/A) on sale for $559 including free shipping. Their price is $140 off MSRP, and it’s the lowest price available for this model. Read more
SSD Speeder RAM Disk SSD Life Extender App Fo...
Fehraltorf, Switzerland based B-Eng has announced they are making their SSD Speeder app for macOS publicly available for purchase on their website. SSD Speeder is a RAM disk utility that prevents... Read more
iPhone Scores Highest Overall in Smartphone D...
Customer satisfaction is much higher among smartphone owners who use their device to operate other connected home services such as smart thermostats and smart appliances, according to the J.D. Power... Read more
Swipe CRM Free Photo-Centric CRM Sales DEal C...
Swipe CRM LLC has introduced Swipe CRM: Visual Sales 1.0 for iPad, an app for creating, managing, and sharing visually stunning sales deals. Swipe CRM is targeted to small-and-medium creative... Read more
13-inch 2.0GHz Apple MacBook Pros on sale for...
B&H has the non-Touch Bar 13″ 2.0GHz MacBook Pros in stock today and on sale for $150 off MSRP. Shipping is free, and B&H charges NY sales tax only: - 13″ 2.0GHz MacBook Pro Space Gray (... Read more
15-inch Touch Bar MacBook Pros on sale for up...
B&H Photo has the new 2016 15″ Apple Touch Bar MacBook Pros in stock today and on sale for up to $150 off MSRP. Shipping is free, and B&H charges NY sales tax only: - 15″ 2.7GHz Touch Bar... Read more
Apple’s iPhone 6s Tops Best-Selling Smartphon...
In terms of shipments, the iPhone 6s from Apple bested all competitors for sales in 2016, according to new analysis from IHS Markit, a world leader in critical information, analytics and solutions.... Read more
Logitech Rugged Combo Protective iPad Case an...
Logitech has announced its Logitech Rugged Combo, Logitech Rugged Case, and Logitech Add-on Keyboard for Rugged Case for Apple’s new, more affordable $329 9.7-inch iPad, a complete solution designed... Read more

Jobs Board

*Apple* Retail - Multiple Positions - Apple,...
Job Description: Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
Fulltime aan de slag als shopmanager in een h...
Ben jij helemaal gek van Apple -producten en vind je het helemaal super om fulltime shopmanager te zijn in een jonge en hippe elektronicazaak? Wil jij werken in Read more
*Apple* Retail - Multiple Positions - Apple,...
Job Description: Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
Fulltime aan de slag als shopmanager in een h...
Ben jij helemaal gek van Apple -producten en vind je het helemaal super om fulltime shopmanager te zijn in een jonge en hippe elektronicazaak? Wil jij werken in Read more
Starte Dein Karriere-Abenteuer in den Hauptst...
…mehrsprachigen Teams betreust Du Kunden von bekannten globale Marken wie Apple , Mercedes, Facebook, Expedia, und vielen anderen! Funktion Du wolltest schon Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.