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 coupled with disciplined expense controls have
yielded continued positive cash flows and solid, high-quality earnings,”
added Apple CFO Fred Anderson.
Apple Computer, Inc. ignited the personal computer revolution in the 1970s
with the Apple II, and reinvented the personal computer in the 1980s with
the Macintosh. Apple is now recommitted to its original mission – to bring
the best personal computing products and support to students, educators,
designers, scientists, engineers, businesspersons and consumers in over 140
countries around the world.
Press Contact:
Tami Begasse
Apple Computer, Inc.
(408) 974-3156
email: begasse@apple.com
Investor Relations Contact:
Nancy Paxton
Apple Computer, Inc.
(408) 974-5420
email: paxton1@apple.com
