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To: Jay who wrote (41939)	12/10/1997 10:17:00 PM
From: Joey Smith	Respond to of 186894

Apple Computer: The body is getting cold....rest in peace... Let's see...how many existing/potential MAC users out there and how many will switch/buy an Intel machine... joey Apple Expects More Losses (12/10/97; 7:00 p.m. EST) By Lisa Picarille, Computer Reseller News There are two things that are not likely to arrive in Apple Computer Inc.'s holiday stocking - a profit and new chief operating officer. Last week Apple filed its annual 10-K report with the U.S. Securities and Exchange Commission, which revealed that the company is unlikely to show a profit until the second quarter of 1998, which ends March 29. "Net sales will be below the level of the prior year's comparable periods through at least the second fiscal quarter of 1998, if not longer," according to the document. That means that for the third year in a row, Apple is likely to have a lackluster first fiscal quarter, which, because of the holiday consumer buying season was historically the company's best quarter. After several missed projections of returning to financial health, Apple chief financial officer Fred Anderson repeatedly began noting that he would no longer be in the business of predicting when the company would return to profitability. However, the recent 10K filing is the first firm indication that the company is not recovering despite the claims of co-founder and Interim CEO Steve Jobs. In the 10-K report Apple attributed its situation to "continued customer concerns regarding the company's strategic direction, financial condition and future prospects, and the viability of the Macintosh platform, and to competitive pressures in the marketplace." Even last month's introduction of new Power Macintosh G3 machines, based on new PowerPC 750 G3 processor, have done little to spur sales. Apple's continued lackluster performance since then-CEO Gilbert Amelio's ouster in July, has also done little to spark interest from potential CEOs. Source close to the Cupertino, Calif. computer maker said that the company is not likely to meet its self-imposed end of the year deadline for finding a new CEO. The company was expected to have a CEO candidate by the end of the year and announce the appointment of the new leader at Macworld Expo the first week of Jan. Apple officials declined to comment, but did claim the company remains on track with its plans. One industry watcher noted that declining sales and revenues, and sharing power with Jobs are not considered executive perks. Meanwhile, former CEO Amelio received a severance payment of $6.7 million according to a document filed last Friday with the SEC. During the 17 months Amelio was in charge at Apple he got approximately $1.4 million in salary and $3 million in bonuses, while Apple posted losses totaling $1.6 billion and laid off more than 4,100 employees during that same period.