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

To: username who wrote (11402)	4/15/1998 6:21:00 PM
From: e. boolean	Read Replies (1) \| Respond to of 213176

Newsbyte's version: CUPERTINO, CALIFORNIA, U.S.A., 1998 APR 15 (NB) -- By Patrick McKenna, Newsbytes. Wall Street analysts expected a modest profit from Apple Computer [NASDAQ:AAPL], and the famous software/hardware company delivered more than expected as it reported second quarter earnings of $55 million or $0.38 per diluted share on $1.4 billion in revenues. First Call Inc.'s consensus of analysts' estimate had expected Apple to come in at $0.17 per share for the quarter. Apple's Fred Anderson attributed the good news for his company to sales from G3 systems with sales up in the US, Europe and Japan. Looking forward, Anderson said he expected "flat" results in the next quarter and "tempered results" in the following quarters as the company revamps its product line with new portable products and home computers. This year's 1998 second quarter revenues were down $0.2 billion from the same quarter a year ago, but the second quarter in 1997 carried a $708 million loss. Anderson provided more good news when he reported current cash and investments at $1.8 billion and decreased inventories from successful sales through the company's new sales strategies with direct sales and CompUSA store-within-a-store operations. On the downside, Apple witnessed a 28 percent decline in Asia Pacific sales, a slight decrease in educational sales and a decrease in PowerBook sales worldwide. Anderson said "soft" sales in the Asia Pacific region were typical of what other companies experience. Sales in America were up 9 percent. Europe was up 19 percent and Japan was up 6 percent. Fifty percent of total 1998 second quarter revenues came from international sales. Regarding decreasing PowerBook sales, he said, without providing details, that the line would be overhauled and debuted no later than summer. He also said Apple has plans for an inexpensive, entry-level computer on the same development calendar. The company recently shipped two new G3 "All-in-One" computers which Apple expects to boost educational sales. "I am very pleased with our second consecutive quarter of very solid results," claimed Anderson. Reported by Newsbytes News Network: newsbytes.com. (19980415/Press Contact: Tami Begasse, Apple, tel 408-974-3156; /WIRES PC, BUSINESS/APPLELOGO/PHOTO)