...a $7 million charge for the acquisition of technology from Macromedia...
APPLE REPORTS THIRD QUARTER PROFIT OF $101 MILLION
CUPERTINO, Calif., July 15 /PRNewswire/ -- Apple Computer, Inc. (Nasdaq: AAPL) today announced a profit of $101 million, or $.65 per diluted share, for the Company's fiscal 1998 third quarter ended June 26, 1998. These results compare to a profit of $55 million, or $.38 per diluted share, achieved in the March 1998 quarter. Revenues for the quarter were $1.4 billion, equal to revenues of the prior quarter, and gross margins were 25.7 percent, up from 24.8 percent in the prior quarter. International sales accounted for 43 percent of the quarter's revenues.
The current quarter's results included a $26 million net favorable impact from non-recurring items, including an after-tax gain of $33 million related to the initial public offering of ARM Holdings plc., in which the Company is a shareholder, and a $7 million charge for
purchased in-process research and development related to the acquisition of technology from Macromedia, Inc. Without these non-recurring items, the Company's net income for the quarter would have been $75 million, or $.50 per diluted share.
"Apple had a terrific quarter -- we sold a record number of Power Macintosh G3 computers, customers love our new PowerBooks, Apple earned its highest profits in years, and we ended the quarter with the lowest inventory level among the major PC players," said Apple's
interim CEO Steve Jobs. "Looking forward, Apple's improved operational efficiency has paved the way for us to aggressively reenter the consumer market with iMac on August 15." |
