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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: 16bit who wrote (25478)	7/14/1999 5:53:00 PM
From: Richard Habib	Read Replies (2) \| Respond to of 213173

Here is some info from MNN. Did they really give a flat outlook for rev??? That would give 0 growth next qtr. Wednesday, July 14th updated 5:25 pm EDT top stories Apple posted a net profit of $203 million, or $1.20 per diluted share on revenues of $1.56 billion, up 11 percent from the year-ago quarter, while gross margins were 27.4 percent (up from 25.7 percent in the year-ago quarter). Apple also announced today a plan to repurchase up to $500 million of its common stock (authorized by the Board). Apple's stock closed at 55 15/16 (+4.19%), a 6-yr high. Other notes: International sales accounted for 45 percent of the quarter's revenues. The current quarter's results included an $89 million after tax gain from the sale of 10 million shares of ARM Holdings plc. Without this non-recurring item, the net income for the quarter would have been $114 million or $0.69 per diluted share. Sales of iMac drove overall unit growth 40 percent over the prior year, comparing with IDC's worldwide industry growth rate forecast of 21 percent. Financial highlights for the quarter include an ending cash balance of over $3.1 billion and the successful conversion of $661 million of debt into stock. An ending inventory balance of less than one day. Total unit shipments was 905,000 units with 487,000 iMac units sold. Average selling price was sequentially down to $1,683 due to a larger iMac product mix. Japan sales nearly doubled and were up 98 percent, while sales in the Americas grew 28 percent. Revenues and margins are expected to flat for next quarter, according CFO Fred Anderson. (Unit numbers including iMacs are expected to increase as well.)