[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

Adobe Premiere Pro CC 2015 9.0.1 - Digit...
Premiere Pro CC 2015 is available as part of Adobe Creative Cloud for as little as $19.99/month (or $9.99/month if you're a previous Premiere Pro customer). Premiere Pro CS6 is still available for... Read more
Adobe After Effects CC 2015 13.5.1 - Cre...
After Effects CC 2015 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
Adobe Creative Cloud 2.2.0.129 - Access...
Adobe Creative Cloud costs $49.99/month (or less if you're a previous Creative Suite customer). Creative Suite 6 is still available for purchase (without a monthly plan) if you prefer. Introducing... Read more
Tower 2.2.3 - Version control with Git m...
Tower is a powerful Git client for OS X that makes using Git easy and more efficient. Users benefit from its elegant and comprehensive interface and a feature set that lets them enjoy the full power... Read more
Apple Java 2015-001 - For OS X 10.7, 10....
Apple Java for OS X 2015-001 installs the legacy Java 6 runtime for OS X 10.11 El Capitan, OS X 10.10 Yosemite, OS X 10.9 Mavericks, OS X 10.8 Mountain Lion, and OS X 10.7 Lion. This package is... Read more
Adobe Muse CC 2015 2015.0.1 - Design and...
Muse CC 2015 is available as part of Adobe Creative Cloud for as little as $14.99/month (or $9.99/month if you're a previous Muse customer). Muse CS6 is still available for purchase (without a... Read more
Adobe Illustrator CC 2015 19.1.0 - Profe...
Illustrator CC 2015 is available as part of Adobe Creative Cloud for as little as $19.99/month (or $9.99/month if you're a previous Illustrator customer). Illustrator CS6 is still available for... Read more
Corel Painter 14.1.0.1105 - Digital art...
Corel Painter helps you create astonishing art in a variety of media. Paint with vivid oil paints, fluid water colors, and earthy charcoals. Corel Painter flawlessly recreates the tones and textures... Read more
Pacifist 3.5.4 - Install individual file...
Pacifist opens up .pkg installer packages, .dmg disk images, .zip, .tar. tar.gz, .tar.bz2, .pax, and .xar archives and more, and lets you extract or install individual files out of them. This is... Read more
Dropbox 3.8.4 - Cloud backup and synchro...
Dropbox is an application that creates a special Finder folder that automatically syncs online and between your computers. It allows you to both backup files and keep them up-to-date between systems... Read more

Mazes of Karradash (Games)
Mazes of Karradash 1.0 Device: iOS Universal Category: Games Price: $1.99, Version: 1.0 (iTunes) Description: The city of Karradash is under attack: the monsters of the Shadow Realms are emerging from the depths.No adventurer is... | Read more »
Battle Golf is the Newest Game from the...
Wrassling was a pretty weird - and equally great - little wressling game. Now the developers, Folmer Kelly and Colin Lane, have turned their attention to a different sport: golfing. This is gonna be weird. [Read more] | Read more »
Qbert Rebooted has the App Store Going...
The weird little orange... whatever... is back, mostly thanks to that movie which shall remain nameless (you know the one). But anyway it's been "rebooted" and now you can play the fancy-looking Qbert Rebooted on iOS devices. [Read more] | Read more »
Giant Monsters Run Amok in The Sandbox...
So The Sandbox has just hit version number 1.99987 (seriously), and it's added a lot more stuff. Just like every other update, really. [Read more] | Read more »
Fish Pond Park (Games)
Fish Pond Park 1.0.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0.0 (iTunes) Description: Nurture an idyllic slice of tourist's heaven into the top nature spot of the nation, furnishing it with a variety of... | Read more »
Look after Baby Buddy on your Apple Watc...
Parigami Gold is the new premium version of the match three puzzler that includes Apple Watch support and all new content. You won't simply be sliding tiles around on your wrist, the Apple Watch companion app is an all new mini-game in itself. You'... | Read more »
Swallow all of your opponents as the big...
Eat all of the opposition and become the largest ball in Battle of Balls now available in the App Store and Google Play. Battle of Balls pits you against other opponents in real time and challenges you to eat more balls and grow larger than all of... | Read more »
PAC-MAN Championship Edition DX (Games)
PAC-MAN Championship Edition DX 1.0.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0.0 (iTunes) Description: It’s Your World. EAT IT! Get ready for more ghost chain gobbling and frantic action in PAC-MAN® CE-DX! The... | Read more »
incurve (Games)
incurve 1.0 Device: iOS Universal Category: Games Price: $.99, Version: 1.0 (iTunes) Description: Get ready for 2 different gravities Goal is to hit as many white dots on your way up.When you're touching the screen, the dots have a... | Read more »
Crossy Road has its Own Merch Store Now....
Do you like Crossy Road? I mean do you really like Crossy Road? Well then you're in luck! Hipster Whale has opened up a Crossy Road store, so you can show off your fandom via official T-shirts. [Read more] | Read more »

Price Scanner via MacPrices.net

Sale! 13″ 1.6GHz/256GB MacBook Air for $1099,...
B&H Photo has the 13″ 1.6GHz/256GB MacBook Air on sale for $1099 including free shipping plus NY tax only. Their price is $100 off MSRP, and it’s the lowest price available for this model. Read more
iPad mini 4 To Be Upgraded To iPad Air 2 Spec...
There’s a certain inevitability about making Apple product predictions this time of year. Come September, we can pretty reliably count on the release of refreshed iPhones, along with the iOS 9... Read more
Apple restocks refurbished Mac minis for up t...
The Apple Store has restocked Apple Certified Refurbished 2014 Mac minis, with models available starting at $419. Apple’s one-year warranty is included with each mini, and shipping is free: - 1.4GHz... Read more
13-inch 2.5GHz MacBook Pro on sale for $899,...
Best Buy has the 13″ 2.5GHz MacBook Pro available for $899.99 on their online store. Choose free shipping or free instant local store pickup (if available). Their price is $200 off MSRP. Price is... Read more
21-inch 2.9GHz iMac on sale for $1299, save $...
Best Buy has the 21″ 2.9GHz iMac on sale today for $1299.99 on their online store. Choose free shipping or free local store pickup (if available). Their price is $200 off MSRP, and it’s the lowest... Read more
Free Image Sizer 1.3 for iOS Offers Photo Edi...
Xi’An, China based G-Power has announced the release of Image Sizer 1.3 for the iPhone, iPad, and iPod touch, an important update to their free photo editing app. Image Sizer’s collection of easy to... Read more
Sale! 13″ 1.6GHz/128GB MacBook Air for $899,...
B&H Photo has the 13″ 1.6GHz/128GB MacBook Air on sale for $899 including free shipping plus NY tax only. Their price is $100 off MSRP, and it’s the lowest price available for this model. Read more
13-inch Retina MacBook Pros on sale for $100...
Best Buy has 13-inch Retina MacBook Pros on sale for $100 off MSRP on their online store. Choose free shipping or free local store pickup (if available). Prices are for online orders only, in-store... Read more
Will BMW’s i3 Electric Vehicle Be The Automo...
The German-language business journal Manager Magazin’s Michael Freitag reports that Apple and the German performance/luxury automaker Bayerishe Motoren Werke (BMW) are back at far-reaching... Read more
Sale! $250 off 15-inch Retina MacBook Pro, $2...
B&H Photo has lowered their price for the 15″ 2.2GHz Retina MacBook Pro to $1749, or $250 off MSRP. Shipping is free, and B&H charges NY sales tax only. They have the 27″ 3.3GHz 5K iMac on... Read more

Jobs Board

*Apple* Customer Experience (ACE) Leader - A...
…management to deliver on business objectives Training partner store staff on Apple products, services, and merchandising guidelines Coaching partner store staff on Read more
Project Manager - *Apple* Pay Security - Ap...
**Job Summary** The Apple Pay Security team is seeking a highly organized, results-driven Project Manager to drive the development of Apple Pay Security. If you are 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
*Apple* Watch SW Application Project Manager...
**Job Summary** The Apple Watch software team is looking for an Application Engineering Project Manager to work on new projects for Apple . The successful candidate 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
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.