Apple earnings go up fourfold, at the low end of expectations
Article Abstract:
Apple Computer is reporting 1st qtr 1995 earnings that increased fourfold but are far less than analysts expected of the company. Earnings were up to $73 million or 59 cents per share from the $17 million or 15 cents per share it reported in the same quarter in the previous year. The financial results were reported as the company faced new rumors about a possible takeover by Canon Inc. Apple is perceived as being financially weak and has a surplus of cash and rumors of the company's acquisition have been widespread. The company experienced a surprise loss in foreign currency investments that hurt its earnings and many analysts were surprised at the extent of Apple's losses. Apple was attempting to hedge against fluctuations in the foreign currency market and some analysts compared the situation to a similar occurrence at Dell in 1994.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Sales of G3 computer lift Apple back to profitability; maker of Macintosh earns $47 million
Article Abstract:
Apple confirmed its surprising 1st qtr 1998 results, attributing the totals to unexpected sales of its G3 Power Macintosh computers and to cost reductions. The company listed $47 million in earnings, or 33 cents per share. By comparison, Apple dropped $120 million in the 1st qtr 1997. Revenue slipped from $2.13 billion to $1.58 billion, or 25.9%. Apple derived 38% of its quarterly revenue from sales of more than 133,000 G3 systems. Apple said the G3, highest among Macintoshes in selling price and profit margin, represented the most successful Apple product introduction ever. CFO Fred Anderson warned analysts not to project revenue growth for the 2nd qtr 1998, the period in which Apple revenue usually is the slowest. Year-over-year revenue growth should resume in summer 1998, Anderson said.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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