[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)

 
AAPL
$100.96
Apple Inc.
-0.83
MSFT
$47.52
Microsoft Corpora
+0.84
GOOG
$596.08
Google Inc.
+6.81

MacTech Search:
Community Search:

Software Updates via MacUpdate

Airfoil 4.8.9 - Send audio from any app...
Airfoil allows you to send any audio to AirPort Express units, Apple TVs, and even other Macs and PCs, all in sync! It's your audio - everywhere. With Airfoil you can take audio from any... Read more
WhatRoute 1.13.0 - Geographically trace...
WhatRoute is designed to find the names of all the routers an IP packet passes through on its way from your Mac to a destination host. It also measures the round-trip time from your Mac to the... Read more
Chromium 37.0.2062.122 - 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. FreeSMUG-Free OpenSource Mac User Group build is... Read more
Attachment Tamer 3.1.14b9 - Take control...
Attachment Tamer gives you control over attachment handling in Apple Mail. It fixes the most annoying Apple Mail flaws, ensures compatibility with other email software, and allows you to set up how... Read more
Duplicate Annihilator 5.0 - Find and del...
Duplicate Annihilator takes on the time-consuming task of comparing the images in your iPhoto library using effective algorithms to make sure that no duplicate escapes. Duplicate Annihilator detects... Read more
jAlbum Pro 12.2 - Organize your digital...
jAlbum Pro has all the features you love in jAlbum, but comes with a commercial license. With jAlbum, you can create gorgeous custom photo galleries for the Web without writing a line of code!... Read more
jAlbum 12.2 - Create custom photo galler...
With jAlbum, you can create gorgeous custom photo galleries for the Web without writing a line of code! Beginner-friendly, with pro results Simply drag and drop photos into groups, choose a design... Read more
Quicken 2015 2.0.4 - Complete personal f...
Quicken 2015 helps you manage all your personal finances in one place, so you can see where you're spending and where you can save. Quicken automatically categorizes your financial transactions,... Read more
iMazing 1.0 - Complete iOS device manage...
iMazing (formerly DiskAid) is the ultimate iOS device manager with capabilities far beyond what iTunes offers. With iMazing and your iOS device (iPhone, iPad, or iPod), you can: Copy music to and... Read more
Xcode 6.0.1 - Integrated development env...
Apple Xcode is Apple Computer's integrated development environment (IDE) for OS X. The full Xcode package is free to ADC members and includes all the tools you need to create, debug, and optimize... Read more

Latest Forum Discussions

See All

View Source – HTML, JavaScript and CSS...
View Source – HTML, JavaScript and CSS 1.0 Device: iOS Universal Category: Utilities Price: $.99, Version: 1.0 (iTunes) Description: View Source is an app plus an iOS 8 Safari extension that makes it easy to do one key web developer... | Read more »
Avenged Sevenfold’s Hail To The King: De...
Avenged Sevenfold’s Hail To The King: Deathbat is Coming to iOS on October 16th Posted by Jessica Fisher on September 19th, 2014 [ permalink ] Just in time for Halloween, on October 16 Avenged Sevenfold will be launching | Read more »
Talisman Has Gone Universal – Can Now be...
Talisman Has Gone Universal – Can Now be Played on the iPhone Posted by Jessica Fisher on September 19th, 2014 [ permalink ] | Read more »
Tap Army Review
Tap Army Review By Jennifer Allen on September 19th, 2014 Our Rating: :: SHOOT EM ALLUniversal App - Designed for iPhone and iPad Mindless but fun, Tap Army is a lane-based shooter that should help you relieve some stress.   | Read more »
Monsters! Volcanoes! Loot! Epic Island f...
Monsters! Volcanoes! Loot! | Read more »
Plunder Pirates: Tips, Tricks, Strategie...
Ahoy There, Seadogs: Interested in knowing our thoughts on all this plundering and pirating? Check out our Plunder Pirates Review! Have you just downloaded the rather enjoyable pirate-em-up Plunder Pirates and are in need of some assistance? Never... | Read more »
Goat Simulator Review
Goat Simulator Review By Lee Hamlet on September 19th, 2014 Our Rating: :: THE GRUFFEST OF BILLY GOATSUniversal App - Designed for iPhone and iPad Unleash chaos as a grumpy goat in this humorous but short-lived casual game.   | Read more »
A New and Improved Wunderlist is Here fo...
A New and Improved Wunderlist is Here for iOS 8 Posted by Jessica Fisher on September 19th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Evernote Update for iOS 8 Adds Web Clipp...
Evernote Update for iOS 8 Adds Web Clipping, Quick Notes, and More Posted by Ellis Spice on September 19th, 2014 [ permalink ] | Read more »
Apple Names Ultimate Productivity Bundl...
Apple Names Ultimate Productivity Bundle by Readdle as the Essential Bundle on the App Store Posted by Jessica Fisher on September 19th, 2014 [ permalink | Read more »

Price Scanner via MacPrices.net

iFixIt Tears Down iPhone 6; Awards Respectabl...
iFixit notes that even the smaller 4.7″ iPhone 6 is a giant among iPhones; so big that Apple couldn’t fit it into the familiar iPhone form factor. In a welcome reversal of a recent trend to more or... Read more
Phone 6 Guide – Tips Book For Both iPhone 6...
iOS Guides has announced its latest eBook: iPhone 6 Guide. Brought to you by the expert team at iOS Guides, and written by best-selling technology author Tom Rudderham, iPhone 6 Guide is packed with... Read more
How to Upgrade iPhone iPad to iOS 8 without D...
PhoneClean, a iPhone cleaner utility offered by iMobie Inc., reveals a solution for upgrading iPhone and iPad to iOS 8 without deleting photos, apps, the new U2 album or anything. Thanks to more than... Read more
Updated Price Trackers
We’ve updated our Mac Price Trackers with the latest information on prices, bundles, and availability on systems from Apple’s authorized internet/catalog resellers: - 15″ MacBook Pros - 13″ MacBook... Read more
Mac Pros available for up to $260 off MSRP
Adorama has Mac Pros on sale for up to $260 off MSRP. Shipping is free, and Adorama charges sales tax in NY & NJ only: - 4-core Mac Pro: $2839.99, $160 off MSRP - 6-core Mac Pro: $3739.99, $260... Read more
13-inch 2.6GHz/256GB Retina MacBook Pros avai...
B&H Photo has the 13″ 2.6GHz/256GB Retina MacBook Pro on sale for $1379 including free shipping plus NY sales tax only. Their price is $120 off MSRP. Read more
Previous-generation 15-inch 2.0GHz Retina Mac...
B&H Photo has leftover previous-generation 15″ 2.0GHz Retina MacBook Pros now available for $1599 including free shipping plus NY sales tax only. Their price is $400 off original MSRP. B&H... Read more
21″ 2.7GHz iMac available for $1179, save $12...
Adorama has 21″ 2.7GHz Hawell iMacs on sale for $1179.99 including free shipping. Their price is $120 off MSRP. NY and NJ sales tax only. Read more
iOS 8 Adoption Rate Slower than iOS 7, 6, Hit...
Apple began pushing out iOS 8 updates to eligible devices around 1pm ET on September 17, 2014. However, unlike with iOS 7, which boasted a wide variety of differences from its predecessor iOS 6, in... Read more
LIkely Final Definitive OS X 10.9.5 Mavericks...
Apple has released what will almost certainly be the last incremental version number update of OS X 10.9 Mavericks (save for futire security updates) before OS X 10.10 Yosemite is released next month... Read more

Jobs Board

Position Opening at *Apple* - Apple (United...
**Job Summary** The Apple Store is a retail environment like no other - uniquely focused on delivering amazing customer experiences. As an Expert, you introduce people Read more
Position Opening at *Apple* - Apple (United...
**Job Summary** As businesses discover the power of Apple computers and mobile devices, it's your job - as a Solutions Engineer - to show them how to introduce these Read more
Position Opening at *Apple* - Apple (United...
…Summary** As a Specialist, you help create the energy and excitement around Apple products, providing the right solutions and getting products into customers' hands. You 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, *Apple* Financial Services...
**Job Summary** Apple Financial Services (AFS) offers consumers, businesses and educational institutions ways to finance Apple purchases. We work with national and Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.