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

To: joe caetano who wrote (7304)	1/6/1998 2:43:00 PM
From: tonyt	Respond to of 213173

WSJ: January 6, 1998 Apple to Post Profit for Quarter; Sales Fell, but Margins Improved An INTERACTIVE JOURNAL News Roundup Apple Computer Inc. said Tuesday that it will post its first quarterly profit in more than a year, due to higher margins and continued cost cutting at the troubled computer maker. But Apple's sales in the quarter will be down about 25% from the year-ago figure. Apple said it expects to report quarterly profit exceeding $45 million on revenue of about $1.58 billion for the fiscal first quarter ended Dec. 31. In the year-ago quarter, Apple posted a loss of $120 million on sales of $2.13 billion. Analysts had expected the Cupertino, Calif., computer maker to report a small loss for the period. "We are thrilled that our new plans are beginning to work," said interim Chief Executive Steve Jobs. Apple's shares were up $2.125, or 13.4%, at $18 in trading Tuesday afternoon on the Nasdaq Stock Market. Apple said it benefited from strong sales of its Power Macintosh G3 computers, noting that more than 133,000 units have shipped since the G3's November debut, compared with an Apple forecast of 80,000 units. Apple also credited its partnership with retailer CompUSA Inc. In the quarter, CompUSA outfitted 57 of its computer superstores with Apple "store within a stores," boosting CompUSA's Macintosh sales, Apple said. Apple said that Macintosh sales rose to 14% of CompUSA's overall PC business, up from 3%, as a result. CompUSA expects all of its computer superstores to be outfitted with the new Apple areas by February, Apple said. At the Macworld Expo in San Francisco, Apple also said its Office 98 Macintosh Edition would ship later this month and introduced Mac OS 8.1, an updated version of the Mac OS 8 software. Apple expects to report its first-quarter results on Jan. 14. Return to top of page Copyright c 1998 Dow Jones & Company, Inc. All Rights Reserved.