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

To: Mark Palmberg who wrote (25483)	7/14/1999 8:47:00 PM
From: Tae Spam Kim	Read Replies (1) \| Respond to of 213186

Yummy Apple Earnings - 8:41 PM EST - TK Apple announced its seventh consecutive profitable quarter with sales of $1.56 billion and beating earnings estimates by 5 cents. G3 and iMacs continue to lead the charge and sell well. Moreover the company said it will start a $500 million stock buyback plan. Mac devotees are psyched for next week's Mac World in New York. They are expected at a minimum the launch of a new notebook line and maybe even an Apple branded Palmpilot. Mac X OS is still expected in early 2000. The seventh time is a charm for Apple, which today reported its seventh straight profitable quarter on revenues of $1.56 billion. Apple also announced a stock buyback plan, encompassing up to $500 million of its common stock. Apple recorded profits of 69 cents per diluted share for its fiscal third quarter, excluding one-time gains. The company bettered its mark from the same period a year ago, when it achieved earnings of 50 cents per diluted share--which also excluded one-time gains. Net earnings were $203 million vs. $101 million for year-ago results. The fiscal third quarter's results included an $89 million after-tax gain from the sale of 10 million shares of ARM. With this one-time gain, Apple vaulted past expectations with earnings of $1.20 per share. Analysts were expecting the company to turn in earnings of 64 cents a share for the quarter, according to a consensus of analyst estimates from First Call. Apple reported $1.56 billion in revenues, up 11 percent from year-ago revenues of $1.4 billion. It was the third-straight quarter of year-over-year growth for the company, considered an important sign of the company's health and long-term prospects. - News.com