Apple Computer
Q3
by Randy Befumo
(TMF Templr)
ALEXANDRIA, Va., July 16, 1997/FOOLWIRE/ --- APPLE COMPUTER <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: AAPL)") else Response.Write("(Nasdaq: AAPL)") end if %> reported
fiscal third quarter loss of $0.44 EPS, better than the $0.61 EPS loss
that analysts had expected according to First Call. The loss was an increase
from last year's $0.26 EPS loss, which included a $39 million gain on an
investment. The company saw revenues drop drop 23% in the period, although
the company did say it saw revenues increase in some European markets, driven
by sales of educational products.
Apple Computer Chief Financial Officer Fred Anderson warned analysts that
the company would not post a profit in the fourth quarter and that it was
hard at work at replacing outgoing Chairman and Chief Executive Officer Gil
Amelio. Amelio was ousted last week by the board of directors to "pursue
personal interests," a corporate euphamism normally attributed to departing
executives. The company has continued to reduce operating expenses on a
sequential basis and will quite possibly manage to narrow the loss in the
fourth quarter.
Make sure to also check out the
Apple Q3 Conference
Call Synopsis! |