Apple posts net loss

Posted on Thursday, October 17 2002 @ 5:40 CEST by Thomas De Maesschalck

Apple Computer reported yesterday a fourth-quarter net loss after writing down the value of some investments and taking a $4 million restructuring charge :

With the investment write-down, restructuring and other items, Apple posted a net loss of $45 million, or 13 cents per share, on revenue of $1.44 billion. That compares with a net profit of $66 million, or 19 cents per share, on revenue of $1.45 billion in the year-ago quarter.
Excluding items, Apple met expecations with a profit of $7 million, or 2 cents per share.

Analysts were expecting the company to post earnings of 2 cents a share, according to First Call. Revenue was expected to be about $1.435 billion.

Apple said it shipped 734,000 Macintoshes during the quarter, down 14 percent from the year-ago quarter.

"Looking forward, we do not expect our industry to pick up anytime soon, though we're hoping to help put a lot of iPods, iMacs and iBooks under trees this holiday season," Apple CEO Steve Jobs said in a statement

Source : C|net

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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