[MD1] Apple Reports First Fiscal Quarter Results
TweetFollow Us on Twitter

[MD1] Apple Reports First Fiscal Quarter Results

Apple Reports First Fiscal Quarter Results

CUPERTINO, California--Jan. 14, 1998--Apple Computer, Inc. today announced
financial results for its fiscal 1998 first quarter which ended Dec. 26,
1997. For the quarter, the Company generated revenues of $1.6 billion and
unit sales of 635,000. The Company recorded a quarterly net profit of $47
million, resulting in basic and diluted earnings per share of $.37 and
$.33, respectively. Apple recorded a net loss of $161 million, or $(1.26)
per share, in the September quarter, and recorded a net loss of $120
million, or $(.96) per share, in the year-ago quarter.

The Company achieved gross margins of 22 percent during the quarter,
compared to 20 percent in the September quarter and 19 percent in the
year-ago quarter. International sales accounted for 50 percent of the
Company's quarterly revenues.

The profitable results were buoyed by the successful introduction of the
Company's Power Macintosh G3 computers on November 10. Over 133,000 units
of the G3 systems shipped during the quarter, rendering the G3 launch the
most successful in the Company's history. The Company also continued to
drive down operating expenses of a recurring nature to $313 million,
compared to $353 million in the September quarter and $521 million in the
year-ago quarter.

"The December quarter results reflect the benefits of the disciplined focus
that Apple has undertaken in recent months," said Apple interim CEO Steve
Jobs. "We've concentrated on providing the powerful products our customers
want at competitive prices, and we continue to streamline our business and
work with industry partners to facilitate this focus. Returning Apple to
sustainable profitability is the Company's number one objective for fiscal
1998, and we believe we're making great progress toward that goal."

"We're extremely pleased with the quality of the quarter's earnings," said
Apple CFO Fred Anderson. "Not only did we achieve a solid operating profit,
but our improving asset management resulted in positive cash flow from
operations of $143 million."

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.

The statements in this release regarding sustainable profitability and
improving asset management are forward looking and subject to risk and
uncertainty, and future results could differ materially from our forecasts.
For a detailed discussion of factors that may affect the Company's
operating results, interested parties should review the Company's SEC
reports, including Apple's Annual Report on Form 10-K for the year ended
September 26, 1997, as well as the Form 10-Q for the quarter ended December
26, 1997, to be filed with the SEC.

Contacts:
Katie Cotton
(408) 974-7269
email: katiec@apple.com

Investor Relations Contact:
Nancy Paxton
(408) 974-5420
email: paxton1@apple.com

------------------------------------------------------------------

APPLE COMPUTER, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollars in millions, except per share amounts)

THREE MONTHS ENDED

December 26, December 27,

1997 1996

Net sales $1,578 $ 2,129

Costs and expenses:

Cost of sales 1,225 1,732

Research and development 79 149

Selling, general and administrative 234 372

1,538 2,253

Operating income (loss) 40 (124)

Interest and other income
(expense), net 7 4

Income (loss) before benefit from
income taxes 47 (120)

Provision (benefit) from income taxes -- --

Net income (loss) $47 $ (120)

==================================================================

Basic earnings (loss)
per common share $0.37 $ (0.96)

==================================================================

Diluted earnings (loss) per common $0.33 $ (0.96)
and common equivalent share

==================================================================

Common shares used in the
calculations of basic
earnings (loss) per share
(in thousands) 127,989 124,532

Common and common equivalent
shares used in the calculations
of diluted earnings (loss) per
share (in thousands) 139,839 124,532

=================================================================

APPLE COMPUTER, INC.
CONSOLIDATED BALANCE SHEETS
ASSETS
(In millions)

December 26, September 26,
1997 1997
(Unaudited)

Current assets:
Cash and cash equivalents $1,193 $1,230
Short-term investments 434 229
Accounts receivable, net of
allowance for doubtful
accounts of $96 ($99 at
September 26, 1997) 902 1,035

Inventories:
Purchased parts 99 141
Work in process 5 15
Finished goods 300 281

404 437

Deferred tax assets 233 259
Other current assets 207 234

Total current assets 3,373 3,424

Property, plant, and equipment:
Land and buildings 402 453
Machinery and equipment 416 460
Office furniture and equipment 100 110
Leasehold improvements 151 172

1,069 1,195

Accumulated depreciation and
amortization (640) (709)

Net property, plant, and equipment 429 486

Other assets 324 323

$4,126 $ 4,233

=================================================================

APPLE COMPUTER, INC.
CONSOLIDATED BALANCE SHEETS (Continued)
LIABILITIES AND SHAREHOLDERS' EQUITY
(Dollars in millions)

December 26, September 26,

1997 1997
(Unaudited)

Current liabilities:

Notes payable to banks $ 24 $ 25
Accounts payable 655 685
Accrued compensation and employee
benefits 92 99
Accrued marketing and
distribution 261 278
Accrued warranty and related 126 128
Accrued restructuring costs 144 180
Other current liabilities 367 423

Total current liabilities 1,669 1,818

Long-term debt 952 951
Deferred tax liabilities 261 264

Shareholders' equity:

Series A non-voting convertible
preferred stock,
no par value; 150,000 shares
authorized, issued and outstanding 150 150

Common stock, no par value;
320,000,000 shares authorized;
128,018,985 shares issued and
outstanding at December 26, 1997
(127,949,220 shares at
September 26, 1997) 499 498
Retained earnings 636 589
Other (41) (37)

Total shareholders' equity 1,244 1,200

$4,126 $ 4,233

 

Community Search:
MacTech Search:

Software Updates via MacUpdate

PDFKey Pro 4.3 - Edit and print password...
PDFKey Pro can unlock PDF documents protected for printing and copying when you've forgotten your password. It can now also protect your PDF files with a password to prevent unauthorized access and/... Read more
Kodi 15.0.beta1 - Powerful media center...
Kodi (was XBMC) is an award-winning free and open-source (GPL) software media player and entertainment hub that can be installed on Linux, OS X, Windows, iOS, and Android, featuring a 10-foot user... Read more
DiskCatalogMaker 6.4.12 - Catalog your d...
DiskCatalogMaker is a simple disk management tool which catalogs disks. Simple, light-weight, and fast. Finder-like intuitive look and feel. Super-fast search algorithm. Can compress catalog data... Read more
Macs Fan Control 1.3.0.0 - Monitor and c...
Macs Fan Control allows you to monitor and control almost any aspect of your computer's fans, with support for controlling fan speed, temperature sensors pane, menu-bar icon, and autostart with... Read more
Lyn 1.5.11 - Lightweight image browser a...
Lyn is a lightweight and fast image browser and viewer designed for photographers, graphic artists and Web designers. Featuring an extremely versatile and aesthetically pleasing interface, it... Read more
NeoOffice 2014.11 - Mac-tailored, OpenOf...
NeoOffice is a complete office suite for OS X. With NeoOffice, users can view, edit, and save OpenOffice documents, PDF files, and most Microsoft Word, Excel, and PowerPoint documents. NeoOffice 3.x... Read more
LaunchBar 6.4 - Powerful file/URL/email...
LaunchBar is an award-winning productivity utility that offers an amazingly intuitive and efficient way to search and access any kind of information stored on your computer or on the Web. It provides... Read more
Remotix 3.1.4 - Access all your computer...
Remotix is a fast and powerful application to easily access multiple Macs (and PCs) from your own Mac. Features Complete Apple Screen Sharing support - including Mac OS X login, clipboard... Read more
DesktopLyrics 2.6.6 - Displays current i...
DesktopLyrics is an application that displays the lyrics of the song currently playing in "iTunes" right on your desktop. The lyrics for the song have to be set in iTunes; DesktopLyrics does nothing... Read more
VOX 2.5.1 - Music player that supports m...
VOX is a beautiful music player that supports many filetypes. The beauty is in its simplicity, yet behind the minimal exterior lies a powerful music player with a ton of features and support for all... Read more

This Week at 148Apps: May 18-22, 2015
May Days at 148Apps How do you know what apps are worth your time and money? Just look to the review team at 148Apps. We sort through the chaos and find the apps you're looking for. The ones we love become Editor’s Choice, standing out above the... | Read more »
Biz Builder Delux (Games)
Biz Builder Delux 1.0.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0.0 (iTunes) Description: Ah, there's nothing like the rhythmic bustle of a burgeoning business burg... especially when you're the one building it... | Read more »
Auroch Digital is Bringing Back Games Wo...
| Read more »
Blades of Brim is a New Endless Runner f...
SYBO Games, the minds behind the ever-popular Subway Surfers, have announced their latest project: Blades of Brim. [Read more] | Read more »
Carbo - Handwriting in the Digital Age...
Carbo - Handwriting in the Digital Age 1.0 Device: iOS Universal Category: Productivity Price: $3.99, Version: 1.0 (iTunes) Description: | Read more »
Draggy Dead (Games)
Draggy Dead 1.1 Device: iOS Universal Category: Games Price: $.99, Version: 1.1 (iTunes) Description: Ditch your dead end job and take up a rewarding career in Grave Robbing today!Guide the recently deceased to a fun filled life of... | Read more »
Bad Dinos (Games)
Bad Dinos 1.0.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0.0 (iTunes) Description: | Read more »
The Apple Watch isn't Great as a Fi...
| Read more »
Show the World What You See With Stre.am...
Live broadcasting is getting popular on mobile devices, which is why you can now get Stre.am, by Infinite Takes. [Read more] | Read more »
PhotoTime's 2.1 Update Adds Apple W...
The latest PhotoTime update is adding even more functionality to the handy photo organizing app. Yep, including Apple Watch support. [Read more] | Read more »

Price Scanner via MacPrices.net

12-inch MacBook stock status for Monday, May...
The new 12″ Retina MacBooks are still on backorder at The Apple Store with a 3-5 week waiting period. However, a few models are in stock today at Apple resellers. Stock is limited, so act now if you’... Read more
New 27-inch 3.3GHz 5K iMac in stock with free...
Adorama has the new 27″ 3.3GHz 5K iMac in stock today for $1999 including free shipping plus NY & NJ sales tax only. Adorama will include a free copy of Apple’s 3-year AppleCare Protection Plan. Read more
Memorial Day Weekend Sale: New 27-inch 3.3GHz...
Best Buy has the new 27″ 3.3GHz 5K iMac on sale for $1899.99 this weekend. Choose free shipping or free local store pickup (if available). Sale price for online orders only, in-store prices may vary... Read more
OtterBox Maximizes Portability, Productivity...
From the kitchen recipe book to the boarsroom presentation, the OtterBox Agility Tablet System turns tablets into one of the most versatile pieces of handheld technology available. Available now, the... Read more
Launch of New Car App Gallery and Open Develo...
Automatic, a company on a mission to bring the power of the Internet into every car, has announced the launch of the Automatic App Gallery, an app store for nearly every car or truck on the road... Read more
Memorial Day Weekend Sale: 13-inch 1.6GHz Mac...
Best Buy has the new 13″ 1.6GHz/128GB MacBook Air on sale for $849 on their online store this weekend. Choose free shipping or free local store pickup (if available). Sale price for online orders... Read more
Memorial Day Weekend Sale: 27-inch 3.5GHz 5K...
Best Buy has the 27″ 3.5GHz 5K iMac on sale for $2099.99 this weekend. Choose free shipping or free local store pickup (if available). Sale price for online orders only, in-store prices may vary.... Read more
Sale! 16GB iPad mini 3 for $349, save $50
B&H Photo has the 16GB iPad mini 3 WiFi on sale for $349 including free shipping plus NY sales tax only. Their price is $50 off MSRP, and it’s the lowest price available for this model. Read more
Price drop on 2014 15-inch Retina MacBook Pro...
B&H Photo has dropped prices on 2014 15″ Retina MacBook Pros by $200. Shipping is free, and B&H charges NY sales tax only: - 15″ 2.2GHz Retina MacBook Pro: $1799.99 save $200 - 15″ 2.5GHz... Read more
With a Mission to Make Mobile Free, Scratch W...
Scratch Wireless, claiming to be the world’s first truly free mobile service, has announced the availability of a new Scratch-enabled Android smartphone, the Coolpad Arise. The smartphone is equipped... Read more

Jobs Board

*Apple* Solutions Consultant - Retail Sales...
**Job Summary** As an Apple Solutions Consultant (ASC) you are the link between our customers and our products. Your role is to drive the Apple business in a retail Read more
*Apple* TV Live Streaming Frameworks Test En...
**Job Summary** Work and contribute towards the engineering of Apple 's state-of-the-art products involving video, audio, and graphics in Interactive Media Group (IMG) at 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
Partner Marketing Manager, Merchant- *Apple*...
**Job Summary** The Apple Pay partner marketing team is looking for a marketing manager to develop and drive US marketing programs with our merchant partners. The right Read more
Technical Project Manager - *Apple* Pay - A...
**Job Summary** Apple Pay is seeking an experienced technical PM to…manage the on boarding of new merchants for the Apple Pay platform in the US Within this role you Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.