From the Aapl site posting:
Subject: APPLE COMPUTER
To: Racso
From: Mark Palmberg
Apr 14 1999 4:34PM EST
Reply #23957 of 24038
Apple posted a net profit of $135 million, or $.84 per diluted share compared with a net profit of $55
million, or $.38 per diluted share, achieved in the year-ago quarter. Revenues for the quarter were
$1.53 billion, up 9 percent from the year-ago quarter, and gross margins were 26.3 percent and
International sales accounted for 50 percent of the quarter's revenues. The current quarter's results
included a $42 million net favorable impact from non-recurring items including an after-tax gain of $50
million resulting from the sale of 2 million shares of ARM Holdings plc., and a net restructuring charge
of $8 million associated with "improving the flexibility and efficiency of manufacturing operations."
Without these non-recurring items, the Company's net profit for the quarter would have been $93
million, or $.60 per diluted share.
Apple is expected to officially announced the Rev D 333-MHz iMacs, available in five colors
Strawberry, Lime, Blueberry, Tangerine and Grape today.
Apple also today is expected to announce the call for redemption on June 1, 1999 of all of its 6 percent
convertible subordinated debentures due June 1, 2001:
"Debentures in an aggregate principal amount outstanding total approximately $661
million. The redemption price is $1,024 plus accrued and unpaid interest of $30 from
December 1, 1998 to the redemption date, for a total of $1,054 for each $1,000
principal amount of debentures. As an alternative to redemption, holders of debentures
have the option until 5:00 p.m. Pacific Daylight Time on June 1, 1999 of converting their
debentures into Apple common stock at a conversion price of $29.205 per share."
"You can always play with the truth"
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