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

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