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Apple posts loss of $45 million

Apple today posted a fourth-quarter net loss of US$45 million, or $.13 per share on revenues of $1.44 billion. This compares to a net profit of $66 million, or $.19 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.44 billion, flat with the year ago quarter, and gross margins were 26.4 percent, down from 30.1 percent in the year-ago quarter. For the year, the company reported net earnings of $65 million on revenues of $5.74 billion, compared to a net loss of $25 million on revenues of $5.36 billion in 2001. In addition, Apple said that it shipped 734,000 Macintosh units during the quarter, down 14 percent from the year-ago quarter.

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