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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (681)	7/17/2001 6:14:09 PM
From: 2MAR$	Respond to of 762

AAPL ( $26-->$22.50) 3Q Net Slumps 70%, Issues Cautious Outlook CUPERTINO, Calif. (Dow Jones)--Apple Computer Inc. (AAPL) posted a 70% plunge in its fiscal third-quarter net income, as revenue fell 19%. For the quarter ended June 30, the computer maker reported net income of $61 million, or 17 cents a diluted share, compared with $200 million, or 55 cents a share, a year earlier. The mean estimate of analysts surveyed by Thomson Financial/First Call was for earnings of 15 cents a share. The latest quarter's results included a $7 million gain from equity investments, which was offset by $7 million in acquisition-related expenses. Revenue fell to $1.48 billion from $1.83 billion. Analysts were expecting sales of $1.57 billion. Gross profit margin was 29.4%, compared with 29.8% a year earlier, and international sales accounted for 44% of revenue. During the third quarter, Apple shipped 827,000 Macintosh units and shipped over 182,000 iBook units. The company is targeting a "slight sequential increase" in revenue and per-share earnings in the fiscal fourth quarter from the third quarter. The Thomson Financial/First Call estimate was for fourth-quarter earnings of 24 cents a share. Year-earlier earnings from operations were $108 million, or 30 cents a share, on sales of $1.87 billion. The company, which currently has over $4.2 billion in cash, launched its first two Apple Retail Stores in the quarter and plans to open 23 more in the remainder of the year. In early July, Apple indefinitely suspended production of its Power Mac G4 Cube as a result of lower-than-expected sales. The desktop computer, named for its shape, was a departure from traditionally designed boxes, but never caught on in the marketplace. Apple's third-quarter results follow a strong second quarter, when the computer maker blew past analyst expectations for profit and sales, which proved to be a major upside surprise for the ailing personal-computer market. After a $247 million loss in the first quarter ended Dec. 31, its first loss in 12 quarters, the computer maker had vowed to return to profitability. Apple more than lived up to its word in these subsequent quarters, driven in part by strong demand for its new laptop computer. Apple posted second-quarter earnings of $43 million, or 12 cents a diluted share, on sales of about $1.43 billion. Excluding items, the company earned 11 cents a diluted share, far exceeding the 1-cent consensus of analysts polled by Thomson Financial/First Call. (END) DOW JONES NEWS 07-17-01 06:12 PM * end of story *

To: 2MAR$ who wrote (681)	7/17/2001 6:15:15 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

VRTS ($51-->$43)hits Q2 forecast, lowers guidance UPDATE 1-Veritas' hits Q2 forecast, lowers guidance (Recasts lede, adds company comment, stock performance, details) MOUNTAIN VIEW, Calif., July 17 (Reuters) - Data management software maker Veritas Software Corp. <VRTS.O> on Tuesday met Wall Street's second-quarter forecast but lowered its annual growth target amid a prolonged slump in corporate technology spending. "While we anticipate completing the second half of the year as one of the growth leaders in the technology sector, we are changing our prior guidance of 35-50 percent annual revenue growth to a new range of 25-35 percent to reflect the weakness in the economy," Gary Bloom, Veritas president and chief executive, said in a statement. The Mountain View, California-based software vendor said pro forma net income, excluding purchase accounting adjustments for acquisitions, was $80 million, or 19 cents per diluted share, compared with $57 million, or 13 cents, in the year-ago quarter. Analysts, on average, had expected the company to earn 19 cents a share on revenue of $391.3 million, according to Thomson Financial/First Call. The company's revenues fell short of expectations, growing 42 percent to $390 million from $275 last year. Nevertheless, it joined a small group of technology companies that posted year-over-year revenue growth for the three months ended June 30. Including purchase accounting adjustments for acquisitions, Veritas posted a net loss of $129 million, or 32 cents per share, compared with a net loss of $172 million, or 43 cents a year ago. Veritas shares, which closed $3.26 higher at $50.42, have underperformed Standard & Poor's computer software index by 47 percent since the end of 2000. ((Palo Alto bureau 1 650-461-3401 or lisa.baertlein@reuters.com)) REUTERS * end of story *