Apple net fell 2.8% in fiscal first period
Article Abstract:
Apple reports a profit of $161.3 million, or $1.33 per share, for 1st qtr FY 1993, ending Dec 25, 1992, down 2.8 percent from $166 million, or $1.36 per share, in 1st qtr FY 1992. Quarterly revenue advanced 7.4 percent, from $1.86 billion to slightly more than $2 billion. Gross margins of net sales fell from 44 percent to 41 percent. Apple's stock rises $1.50 to $65 on Jan 14, 1993, after the results are released. First Boston Corp analyst Charles Wolf opines that Apple's quarterly results were hurt by its inability to meet demand for its most popular products, including the new Power Book and Duo laptop computers. Wolf believes the pent-up demand augers well for the 2nd qtr. Apple reports that demand is also strong for desktop computers, especially those with optical-disk drives.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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Autodesk forecast of earnings drop sends stock reeling
Article Abstract:
Autodesk Inc reports that earnings for 4th qtr 1991 ended Friday, Jan 31, 1992, will be about $8 million, or 30 cents to 35 cents a share, which is down 18 percent compared with the $13.2 million, or 53 cents a share, reported in 1990. Revenue is $64 million to $66 million, which compares with $62.3 million last year. When the news was announced, Autodesk's stock dropped $6.25, to $28.25. Autodesk CEO Alvar Green cites slowed economic conditions as a reason for the setback. Industry observers say that there are other causes as well: for example, promotional discounts that were offered in 3rd qtr 1991 eroded 4th qtr sales; and the company now finds it necessary to invest more money in marketing and product promotions.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Ashton-Tate is cutting its work force 15% to 20%, predicting wider losses
Article Abstract:
Ashton-Tate has announced plans to layoff employees companywide and initiate other cost-cutting plans because of losses anticipated in the 3rd qtr, which are attributed to slow sales and excess inventories. The database software manufacturer will layoff 15 percent to 20 percent of its 1,731 workers to make sure that the company is cash-flow profitable in the 4th qtr. In addition, budgets will be tightened in advertising, machines, temporary workers and consultants. Inventories are beginning to decline, but the reduction program will be continuing. Ashton-Tate's loss in the Sept 30, 1989 quarter will exceed the $19.8 million loss reported for last quarter.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1989
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