Apple reports record profit and revenue
Article Abstract:
Apple Computer Inc reported a record net income of $97.6 million and record revenue of $1.77 billion for the 4th qtr, FY 1992, because of delays in releasing its notebook computers and because of price cuts in its Macintosh line. Earnings rose 20 percent from $81.2 million, which was reported for 4th qtr of FY 1991, and revenue rose 17 percent from the $1.51 billion reported for 4th qtr, FY 1991. Analysts' predictions were slightly below the reported earnings, but one analyst said that this could be due to Apple's not having accounted for costs incurred by a plant closure. Pent-up demand for Apple's notebook computers caused sales to rise. According to Apple, the company sold over 400,000 Notebook computers in the first year of availability, accounting for over $1 billion in revenue. Sales for the Macintosh rose over 35 percent in the 4th qtr due to price cuts.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Apple's profit spurted by 134% in 2nd quarter; revenue advanced by 8%; computer concern cites improved margins, sales
Article Abstract:
Improved gross margins, brisk sales of new products and record-setting foreign sales at Apple Computer Inc caused a 134 percent profit increase during the 1990 second fiscal quarter. International sales totaled 47 percent of the sales for the quarter. Apple posted a net income of $131.8 million, or $1.04 a share, up from $56.4 million, or 44 cents a share, during the same quarter in 1989. Revenue rose 8 percent to $1.35 billion from $1.25 during that period. During the last six months, net income grew 30 percent to $256.7 million, or $2 a share, from $196.8 million, or $1.54 a share, from the same period in 1989. Apple's stock closed unchanged at $43.25 a share on 1.7 million shares in national over-the-counter trading on Apr 18, 1990.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Apple projects lower earnings for 3rd period; profit margins fall sharply as strategy changes; stock tumbles on news
Article Abstract:
Apple Computer Inc reports that demand for low-cost Macintosh microcomputers is up, but the effect is likely to be a decline in profits for the fiscal 3rd qtr of 1991 compared with 1990. Pressure on margins is seen as a consequence of Apple's attempts to increase market share by cutting prices. The situation is made worse by a strengthened dollar and weakened demand for Apple's products in Europe. Analysts have lowered their earnings estimates twice in two weeks. The company's stock fell $7.75, closing at $47.25 on May 1, 1991. The stock, which sold at more than $70 a share in April, has lost a third of its value in three weeks.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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