Apple posts $14 million profit

Apple today posted a net profit of US$14 million, or 4 cents per diluted share, for its fiscal 2003 second quarter ended March 29, 2003. These results compare to a net profit of $40 million, or $.11 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.475 billion, down 1 percent from the year-ago quarter, and gross margins were 28.3 percent, up from 27.4 percent in the year-ago quarter. International sales accounted for 47 percent of the quarter’s revenues, according to the company.

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