Apple Expects to Report Fourth Quarter Earnings of $75 to $85 Million
PR Newswire - September 20, 1999 16:45
CUPERTINO, Calif., Sept. 20 /PRNewswire/ -- Apple (Nasdaq: AAPL) today announced that units, revenues and earnings for the September quarter will be below last quarter's levels due to lower than planned deliveries of G4 processor chips from Motorola. The G4 processor is used in Apple's newly-announced Power Mac G4 computers.
The Company indicated that it expects to report earnings between $75 million and $85 million when actual results are announced on October 13, 1999.
"We are very disappointed that this quarter's deliveries of G4 processors will be lower than planned. Orders for the Power Mac G4 have been strong and we anticipate ending the September quarter with a substantial order backlog," said Fred Anderson, Apple's CFO. "We continue to expect significant year-over-year growth in units and revenue in the December quarter."
"Apple has received orders for over 150,000 Power Mac G4s since the product was announced three weeks ago, and we regret that we will not be able to ship them all this quarter," said Steve Jobs, Apple's interim CEO. "This is a temporary issue, and we hope to catch up early in the coming quarter."
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My Take:
There are 150,000 preordered G4s. At a conservative price tag of $2,500 per machine, counting monitor, that's a mere $373 million dollars for a machine that just came out!
And add 160,000 iBooks to that number, and you're in serious business.
Forget about a small setback. AAPL is on a roll. |
