[MD1] Some good Apple news - Profits
TweetFollow Us on Twitter

[MD1] Some good Apple news - Profits

Apple Computer Announces Quarterly Results

Company Posts $25 Million Profit; Revenues, Margins, and Cash Flow Reflect
Continued Improvement

CUPERTINO, California--Oct. 16, 1996--Apple Computer, Inc. today announced
results for its fourth fiscal quarter ended Sept. 27, 1996. For the
quarter, Apple's revenues were $2.321 billion, a decrease of $682 million
fromthe fourth quarter a year ago, but a sequential increase of $142
million from the quarter ended June 30, 1996. Unit shipments for the
quarter were approximately 932,000, a decline of 26 percent from the year
ago quarter but a sequential increase of 11 percent from the June 1996
quarter. International revenues represented 47 percent of the quarterly
total.

Net income for the quarter was $25 million, or $.20 per share, compared
with $60 million, or $.48 a share, in the same quarter a year ago. The
Company's operating income for the quarter was $34 million, a sequential
improvement of $150 million from its $116 million operating loss in the
June 1996 quarter. Included in the fourth quarter's operating results was
an adjustment of prior period restructuring charges which reduced pre-tax
operating expenses by $28 million. Without this adjustment, net earnings
would have been approximately $8 million, or $.06 per share.

The Company experienced continued sequential growth in gross margins and
reductions in operating expenses. Gross margins were 22 percent, compared
to 18.5 percent in the June quarter, while operating expenses before the
restructuring adjustment declined to $505 million from $519 million in the
June quarter.

"We continue to make progress in strengthening Apple's financial
condition, as our $410 million in positive cash flow from operations
during the quarter suggests," said Apple Executive Vice President and
Chief Financial Officer Fred D. Anderson. "We've reduced inventories by
nearly $400 million since June and completed the quarter with over $1.7
billion in cash and short-term investments. Gross margins increased due to
several factors, including declining component costs, improved
manufacturing efficiencies, and sales of previously reserved inventory. We
achieved further sequential reductions in operating expenses, primarily in
general and administrative functions."

"By increasing revenues sequentially and fortifying Apple's financial
position in each of the last two quarters, we have achieved two very
critical goals of Apple's transformation," said Apple Chairman and Chief
Executive Officer Dr. Gilbert F. Amelio. "We remain confident about
reaching sustainable profitability by the end of Q2'97. As we move
forward, our challenges will be to extend our competitive leadership in
key markets and to reclaim the mantle of industry pioneer and innovator.

"The question before us is not 'Will Apple survive?'," said Dr.
Amelio,"but rather, 'How will Apple establish leadership in the emerging
digital era of the Internet and multimedia?' We plan to do so with strong
management, a relentless dedication to quality, and a passionate
commitment to our role as industry innovator."

For the Company's fiscal year ended Sept. 27, 1996, revenues were $9.833
billion, an 11 percent decrease from the prior year. The net loss for the
year was $816 million, or a loss of $6.59 per share, compared with net
income of $424 million or $3.45 per share in fiscal 1995. The largest
contributors to the fiscal 1996 loss during the year were after-tax
inventory writedowns of $388 million in the second quarter, net
restructuring charges of $113 million during the year, and after-tax
warranty and related expenses that were approximately $126 million greater
than historical rates would suggest.

For the year, international revenues accounted for 52 percent of Apple's
net sales, compared to 48 percent in fiscal 1995.

Except for the historical information contained herein, the statements
regarding establishing competitive leadership, effecting innovation,
addressing quality issues, introducing new products, continuing focus on
certain industry growth areas, 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 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-Q for the third fiscal
quarter and will also be included in the Company's Form 10-K for the 1996
fiscal year, to be filed with the SEC.

Apple Computer, Inc., a recognized pioneer and innovator in the
information industry, creates powerful solutions based on easy-to-use
personal computers, servers, peripherals, software, and personal digital
assistants. Headquartered in Cupertino, Calif., Apple (NASDAQ:AAPL)
develops, manufactures, licenses, and markets products, technologies, and
services for the business, education, consumer, scientific, engineering,
and government markets in over 140 countries.

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

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

NOTE TO EDITORS: To access Apple press releases, background material, and
contact information on the web, visit The Source at: www.apple.com/source/.
If you are interested in receiving Apple press releases by fax, call
1-800-AAPL-FAX (1-800-227-5329) and enter your PIN number. If you do not
have a PIN number, contact Apple's Media Helpline at (408) 974-2042 to
request one. If you would like to receive Apple press releases by email,
please send an email message to listproc@guisel.austin.apple.com. Include
the text "subscribe pressrel [your full name]" in the body of the message.
To remove your address from the mailing list send an email message to
listproc@guisel.austin.apple.com. Include the text "remove pressrel" in the
body of the message.

============================================================================

Apple's Q4'96 Financial Results: The Six Key Points
CUPERTINO, California--Oct. 16, 1996--the following was released by Apple
Computer, Inc.:

1.Apple's Transformation Progresses.

Apple has achieved many of the most critical goals of its transformation,
and remains confident about reaching sustainable profitability by the end
of Q2'97. Sales have not only stabilized, but grew during this quarter;
and over the last two quarters, the operating expenses have been
significantly reduced. Going forward, the Company's challenges will be to
extend its competitive leadership in key markets and to reclaim the mantle
of industry pioneer and innovator.

2.Improved Inventories, Margins, and Costs Containment Produce Continued
Financial Improvement.

Apple continues to make progress in strengthening the Company's financial
position. The Company achieved $410 million in positive cash flow from
operations during the quarter, reduced inventories by nearly $400 million
since June, and ended the quarter with over $1.7 billion in cash and
short-term investments, which is $610 million more than our outstanding
debt. Gross margins increased due to several factors, including declining
component costs and improved manufacturing efficiencies. The Company
achieved further sequential reductions in operating expenses, primarily in
general and administrative functions.

3.Apple's Sales Grew During the Quarter.

After stabilizing sales in Q3, revenues increased from $2.179 billion in
the June quarter to $2.321 in the September quarter. Sales in the US K-12
education market were higher this quarter than in any other quarter in the
Company's history. Sales to business customers were also up notably from
last quarter.

4.Significant Endorsements from Enterprise Customers Continue.

Apple continues to gain new--and extend sales to existing--enterprise
customers. Customers who made major enterprise commitments to Apple
include: Los Alamos National Labs, Jet Propulsion Labs, Southwestern Bell
Telephone, Art Institutes International, State of Texas (CADA), Qualcomm,
and Don Rey Media. Additionally, key alliances such as the Sun-Apple
alliance are designed to help fortify Apple's proposition to enterprise
customers. Apple has agreed with Sun to work together to create
high-performance enterprise intranets and new Java-based component
development and multimedia technologies.

5.Apple Renewed Product Offering Imminent.

Parallel to its efforts to stabilize sales and control expenses, Apple is
taking proactive steps to renew its product offering, and to be able to
meet key market expectations, in a competitive way. Examples of this broad
effort include:

New products and solutions designed for enterprise customers;

* The total renewal of the PowerBook family, with the expected
introduction of a new PowerBook on Oct. 21, 1996, and a number of
additional new PowerBook models expected to appear throughout 1997;

* Apple's intention to aggressively pursue the home market with products
at a range of price points.

* Apple's plans to introduce a Performa system to meet the specific
demands of the home and education market.

* Apple's plans to offer specially designed software packages for
elementary, middle school, and high school students, in addition to a
games package.

6.Expectations for Q1'97: Comparable Sales to Q4'96.

Apple expects sales volumes in the first fiscal quarter to be relatively
comparable to Q4'96 volumes, in spite of anticipated lower PowerBook
sales, due to the start of a planned new product transition over the next
two quarters. The mix will shift towards consumer-oriented products, and
PowerBooks will be in a ramp-up mode. Beginning in the second quarter,
Apple expects to begin to experience some modest year-over-year growth.
Apple feels good about it's ability to sustain gross margins at or above
the 20 percent level, and expect to hold operating expenses to around $500
million a quarter.

For the full financial statements for Apple Computer, please point your web
browser of choice at
(http://product.info.apple.com/pr/press.releases/1997/q1/961016.pr.rel.q4...
s2.html#operations)

 

Community Search:
MacTech Search:

Software Updates via MacUpdate

Postbox 5.0.9 - Powerful and flexible em...
Postbox is a new email application that helps you organize your work life and get stuff done. It has all the elegance and simplicity of Apple Mail, but with more power and flexibility to manage even... Read more
DiskCatalogMaker 6.5.16 - Catalog your d...
DiskCatalogMaker is a simple disk management tool which catalogs disks. Simple, light-weight, and fast. Finder-like intuitive look and feel. Super-fast search algorithm. Can compress catalog data... Read more
TrailRunner 3.8.827 - Route planning for...
TrailRunner is the perfect companion for runners, bikers, hikers, and all people wandering under the sky. Plan routes on a geographical map. Import GPS or workout recordings and journalize your... Read more
VueScan 9.5.61 - 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
Postbox 5.0.9 - Powerful and flexible em...
Postbox is a new email application that helps you organize your work life and get stuff done. It has all the elegance and simplicity of Apple Mail, but with more power and flexibility to manage even... Read more
VueScan 9.5.61 - 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
DiskCatalogMaker 6.5.16 - Catalog your d...
DiskCatalogMaker is a simple disk management tool which catalogs disks. Simple, light-weight, and fast. Finder-like intuitive look and feel. Super-fast search algorithm. Can compress catalog data... Read more
TrailRunner 3.8.827 - Route planning for...
TrailRunner is the perfect companion for runners, bikers, hikers, and all people wandering under the sky. Plan routes on a geographical map. Import GPS or workout recordings and journalize your... Read more
Civilization VI 1.0.1 - Next iteration o...
Sid Meier’s Civilization VI is the next entry in the popular Civilization franchise. Originally created by legendary game designer Sid Meier, Civilization is a strategy game in which you attempt to... Read more
Chromium 55.0.2883.75 - Fast and stable...
Chromium is an open-source browser project that aims to build a safer, faster, and more stable way for all Internet users to experience the web. Version 55.0.2883.75: Security fixes: High CVE-2016... Read more

Latest Forum Discussions

See All

Amateur Surgeon 4 Guide: Become the worl...
It's time to wield your trusty pizza cutter again, as Amateur Surgeon has returned with a whole fresh set of challenges (and some old, familiar ones, too). Starting anew isn't easy, especially when all you have at your disposal is a lighter, the... | Read more »
Le Parker: Sous Chef Extraordinaire (Ga...
Le Parker: Sous Chef Extraordinaire 1.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0 (iTunes) Description: | Read more »
Telltale Games really is working on a Gu...
Telltale Games' next episodic adventure is indeed Guardians of the Galaxy. A document tied to the voice actors strike suggested that the project was in the work, but now we have direct confirmation following an announcement at the Game Awards that... | Read more »
Amateur Surgeon returns to iOS and Andro...
Amateur Surgeon and its two sequels disappeared from the App Store some time and it was sad days for all. But now, just in time for the holidays, the Adult Swim favorite makes its joyous return in the shape of Amateur Surgeon 4, a remake with... | Read more »
The best board games on mobile
Sometimes you need to ditch all of the high speed, high action games in favor of something a little more traditional. If you don't feel like parting ways from your mobile device, though, there are still plenty of ways to get that old-school fix.... | Read more »
The best Facebook Messenger Instant Game...
Facebook's new Instant Games is now here, meaning you can play games with your friends directly via Facebook. It's a fun new way to connect with friends, of course, but it's also proving to be a solid gaming experience in its own right, with a... | Read more »
You can now play game's on Facebook...
Facebook launched its new Instant Games platform in an exciting new attempt to engage its user base. As a result, you can now play a number of different games directly through Facebook Messenger. All of these games run with HTML5, meaning you play... | Read more »
Apollo Justice Ace Attorney (Games)
Apollo Justice Ace Attorney 1.00.00 Device: iOS Universal Category: Games Price: $.99, Version: 1.00.00 (iTunes) Description: Court Is Back In Session Star as rookie defense attorney, Apollo Justice, as he visits crime scenes,... | Read more »
KORG iWAVESTATION (Music)
KORG iWAVESTATION 1.0 Device: iOS Universal Category: Music Price: $19.99, Version: 1.0 (iTunes) Description: A revolutionary new world of sound.The Wave Sequence Synthesizer for iPad - KORG iWAVESTATION | Read more »
Don't Grind Guide: Tips for becomin...
Don’t Grind is a surprising, derpy little one touch game with fun hand-drawn graphics. The goal is simple -- get the high score without being chopped to bits. That can be tough when you’re not used to the game, and that’s compounded by the fact... | Read more »

Price Scanner via MacPrices.net

Holiday sale: Apple MacBook Airs available fo...
B&H Photo has 13″ MacBook Airs on sale for $100 off MSRP. Shipping is free, and B&H charges NY sales tax only: - 13″ 1.6GHz/128GB MacBook Air (MMGF2LL/A): $899 $100 off MSRP - 13″ 1.6GHz/... Read more
13-inch Silver Touch Bar MacBook Pro in stock...
Amazon has the new 2016 13″ 2.9GHz/256GB Silver Touch Bar MacBook Pro (MLVP2LL/A) in stock today and on sale for $1749 including free shipping. That’s $50 off MSRP, and it’s the lowest price... Read more
Parallels Toolbox 1.3 for Mac Offers 25 Singl...
Parallels has launched Parallels Toolbox 1.3 for Mac, an upgrade that adds five new utilities to the stand-alone application which was released in August and is available exclusively online at http... Read more
OWC Mercury Elite Pro Dual mini Ultra-Portabl...
OWC has introduced the new OWC Mercury Elite Pro Dual mini, a powerful yet ultra-portable dual-drive RAID solution. The new Mercury Elite Pro Dual mini packs phenomenal performance into a small... Read more
Clearance 13-inch Retina MacBook Pros availab...
B&H Photo has clearance 2015 13″ Retina Apple MacBook Pros available for up to $200 off original MSRP. Shipping is free, and B&H charges NY tax only: - 13″ 2.7GHz/128GB Retina MacBook Pro: $... Read more
Roundup of 2016 13-inch 2.0GHz MacBook Pro sa...
B&H has the non-Touch Bar 13″ MacBook Pros in stock today for $50-$100 off MSRP. Shipping is free, and B&H charges NY sales tax only: - 13″ 2.0GHz MacBook Pro Space Gray (MLL42LL/A): $1449 $... Read more
New 13-inch 2.0GHz Space Gray MacBook Pro in...
Adorama has the new 13″ 2.0GHz Space Gray MacBook Pro (non-Touch Bar, MLL42LL/A) in stock for $1499 including a free 3-year AppleCare Protection Plan. Shipping is free, and Adorama charges sales tax... Read more
Finnair Adopts iOS Enterprise iPad Apps from...
Finnair and IBM have announced a first-of-its-kind agreement to utilize iOS enterprise apps from IBM to support the airline’s overall digital transformation. Finnair is focused on Asia-Europe traffic... Read more
Tech21 Launches Evo Go iPhone 7 Case Availabl...
Tech21 has announced the launch of the Evo Go case for Apple iPhone 7 and iPhone 7 Plus, exclusively at T-Mobile. Available online and at participating T-Mobile stores nationwide, Evo Go cases start... Read more
Apple Turns (RED) with More Ways to Join the...
In recognition of World AIDS Day, Apple is offering more ways than ever for customers to join (RED) in its mission to create an AIDS-free generation. Apple is the worlds largest corporate contributor... Read more

Jobs Board

*Apple* Retail - Multiple Positions- Kansas...
Job Description:SalesSpecialist - Retail Customer Service and SalesTransform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
*Apple* Retail - Multiple Positions- Chicago...
Job Description: Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
Hardware Design Validation Engineer - *Apple...
The Apple Watch team is looking for a Hardware Design Validation Engineer. This person will be part of the Apple Watch hardware team with responsibilities for Read more
SW Engineer *Apple* TV Frameworks - Apple I...
The Apple TV team is looking for a software...create features that reflect the look and feel of Apple TV. Description: Were looking for someone who is Read more
*Apple* Retail - Multiple Positions- Greenwi...
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.