[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
$100.75
Apple Inc.
+0.64
MSFT
$46.36
Microsoft Corpora
-0.08
GOOG
$577.36
Google Inc.
+1.00

MacTech Search:
Community Search:

Software Updates via MacUpdate

QuickBooks 2015 16.0.0.1352 R1 - Financi...
QuickBooks 2015 helps you manage your business easily and efficiently. Organize your finances all in one place, track money going in and out of your business, and spot areas where you can save.... Read more
Mac DVDRipper Pro 5.0.1 - Copy, backup,...
Mac DVDRipper Pro is the DVD backup solution that lets you protect your DVDs from scratches, save your batteries by reading your movies from your hard disk, manage your collection with just a few... Read more
Apple OS X bash Update 1.0 - Fix for sec...
The OS X bash Update fixes a security flaw in the bash UNIX shell on OS X 10.9.5 (also on OS X 10.8 and 10.7 [see Related Links below]). OS X 10.9.5 or later Downloads for OS X 10.8 and OS X 10.7 in... Read more
SyncTwoFolders 2.0.5 - Syncs two user-sp...
SyncTwoFolders simply synchronizes two folders. It supports synchronization across mounted network drives and it is a possibility to run a simulation showing in a log what will be done. Please visit... Read more
FinderPop 2.5.7 - Classic Mac utility, n...
FinderPop is a Universal preference pane that extends OS X's contextual menus using a FinderPop Items folder much as the Apple Menu Items folder used to do for the Apple menu. It has other features... Read more
VueScan 9.4.45 - 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
LibreOffice 4.3.2.2 - Free Open Source o...
LibreOffice is an office suite (word processor, spreadsheet, presentations, drawing tool) compatible with other major office suites. The Document Foundation is coordinating development and... Read more
calibre 2.4 - Complete e-library managem...
Calibre is a complete e-book library manager. Organize your collection, convert your books to multiple formats, and sync with all of your devices. Let Calibre be your multi-tasking digital... Read more
Default Folder X 4.6.9b1 - Enhances Open...
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... Read more
Beamer 2.0.4 - Stream any movie file fro...
Beamer streams to your Apple TV.... Plays any movie file - Just like the popular desktop movie players, Beamer accepts all common formats, codecs and resolutions. AVI, MKV, MOV, MP4, WMV, FLV. To... Read more

Latest Forum Discussions

See All

apeFilter (Music)
apeFilter 1.0 Device: iOS Universal Category: Music Price: $6.99, Version: 1.0 (iTunes) Description: | Read more »
Shred It! Review
Shred It! Review By Jennifer Allen on September 30th, 2014 Our Rating: :: GORGEOUS BUT BASICUniversal App - Designed for iPhone and iPad It might look lovely, but Shred It! is a pretty shallow endless runner/snowboarding game.   | Read more »
It Came From Canada: Angry Birds: Transf...
Anyone afraid that throwing Transformers into the Angry Birds mix would result in a Michael Bay-level of childhood pillaging can rest easy. While Rovio’s famous fowls may be a 21st century staple, Angry Birds: Transformers wears its affection for... | Read more »
Galaxy Trucker Review
Galaxy Trucker Review By Rob Thomas on September 30th, 2014 Our Rating: :: IN FOR THE LONG HAULiPad Only App - Designed for the iPad We got a great big convoy, rockin’ through the night… the endless night of outer space, that is.... | Read more »
Moon and Sun – children’s book Review
Moon and Sun – children’s book Review By Amy Solomon on September 30th, 2014 Our Rating: Moon and Sun is a fable-like children’s book with lush illustrations.   Developer: Marcio Monteiro Price: $3.99 Version: 1.0 App Reviewed on... | Read more »
Kairosoft Finally Brings The Pyraplex to...
Kairosoft Finally Brings The Pyraplex to iOS Posted by Jessica Fisher on September 30th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Yeti’s Parole Officer Review
Yeti’s Parole Officer Review By Jennifer Allen on September 30th, 2014 Our Rating: Universal App - Designed for iPhone and iPad Yeti’s Parole Officer proves that looks aren’t everything in this entertaining, if plain, piece of... | Read more »
Record Keeper and World Wide Words – Two...
Record Keeper and World Wide Words – Two New Final Fantasy Games Arrive on iOS in Japan Posted by Ellis Spice on September 30th, 2014 [ permalink ] | Read more »
iPollute Review
iPollute Review By Nadia Oxford on September 30th, 2014 Our Rating: :: iPOLLUTE, uPOLLUTEUniversal App - Designed for iPhone and iPad iPollute is a delightful-looking pollution simulator, though it’s a bit light on “game” content... | Read more »
This Week at 148Apps: September 22-26, 2...
Your Source For The Latest App Reviews   | Read more »

Price Scanner via MacPrices.net

MacBook Airs on sale for $100 off MSRP, start...
Best Buy has the new 2014 MacBook Airs on sale for $100 off MSRP on their online store. Choose free home shipping or free local store pickup (if available). Prices valid for online orders only, in-... Read more
Apple Releases OS X Mavericks bash Update 1.0...
Apple has released a patch update for OS X Mavericks users to address the recently-detected “Shellshock” security bug in BSD UNIX’s bash shell. Apple says only a few Mac users who had manually... Read more
Pivotal Payments Ready for Apple Pay – FlexPo...
Pivotal Payments, a provider of merchant services and global payment processing solutions, has announced its proprietary FlexPoint platform will support credit and debit transactions through Apple’s... Read more
iStabilizer Announces Tabarm — First Friction...
iStabilizer, a specialist in universal lightweight compact tripods, steady cams, dollies, mounts, and remotes for smartphones, tablets, and cameras, announced today the iStabilizer tabArm, the first... Read more
IStabilizer Flex Smartphone Tripod Wins Usa T...
iStabilizer, a specialist in universal lightweight compact tripods, steady cams, and other products for smartphones, tablets, and cameras, has announced today that its iStabilizer Flex smartphone... Read more
13-inch 2.8GHz Retina MacBook Pro on sale for...
B&H Photo has the new 2014 13″ 2.8GHz Retina MacBook Pro on sale for $1699.99 including free shipping plus NY sales tax only. They’ll also include free copies of Parallels Desktop and LoJack for... Read more
15-inch Retina MacBook Pros on sale for up to...
B&H Photo has the new 2014 15″ Retina MacBook Pros on sale for up to $150 off MSRP. Shipping is free, and B&H charges NY sales tax only. They’ll also include free copies of Parallels Desktop... Read more
Get Down to Business On Your iPad With Free N...
Utah based Poem LLC has introduced Nexticy 1.0, a full-featured, affordable (Free) forms application for iPad. Nexticy makes it ‘way easy’ to create, store, retrieve and analyze paper-like forms of... Read more
13-inch Retina MacBook Pros on sale for $100...
Best Buy has 13-inch 2.6GHz 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-... Read more
Reports Outline Claimed 12-Inch Macbook Air D...
Blogger Jack March says that according to information he’s received from an anonymous “source familiar with Apple’s plans,” the next-generation MacBook Air will launch in mid-2015 and be available... Read more

Jobs Board

*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
*Apple* Retail - Multiple Positions (US) - A...
Job Description: Sales Specialist - Retail Customer Service and Sales Transform Apple Store visitors into loyal Apple customers. When customers enter the store, Read more
Senior Event Manager, *Apple* Retail Market...
…This senior level position is responsible for leading and imagining the Apple Retail Team's global event strategy. Delivering an overarching brand story; in-store, Read more
*Apple* Solutions Consultant (ASC) - Apple (...
**Job Summary** The ASC is an Apple employee who serves as an Apple brand ambassador and influencer in a Reseller's store. The ASC's role is to grow Apple Read more
Project Manager / Business Analyst, WW *Appl...
…a senior project manager / business analyst to work within our Worldwide Apple Fulfillment Operations and the Business Process Re-engineering team. This role will work Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.