Apple Reports $55 Million in Quarterly Profits
CUPERTINO, California--April 15, 1998--Apple Computer, Inc. today announced
profits of $55 million and diluted earnings per share of $0.38 for its
second fiscal quarter ending March 27, 1998, up from a loss of $708
million, or $(5.64) per share, in the prior year quarter. The Company's net
loss in the prior year quarter was $178 million exclusive of non-recurring
charges.
Revenues for the quarter were $1.4 billion, down from $1.6 billion in the
prior year quarter. International sales accounted for 50 percent of total
revenues. Unit shipments were 650,000, an 8 percent increase from the prior
year quarter. Gross margins for the quarter were 25 percent, up from 19
percent in the prior year quarter.
"Apple had a great quarter, no question about it," said Steve Jobs, Apple's
interim CEO. "We are very pleased with the strong demand for our Power
Macintosh G3 computers, which accounted for 51 percent of all units sold."
"The G3s' higher margins...

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