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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (16651)	7/15/1998 5:08:00 PM
From: Moonray	Read Replies (3) \| Respond to of 22053

Apple powers past profit expectations; But computer maker says sales fell sharply in past year CBS MarketWatch - Last Update: 04:58 PM July 15, 1998 CUPERTINO, Calif. (CBS.MW) -- Apple Computer Inc. had good news and bad news Wednesday. The good news: fiscal third-quarter earnings were well-above Wall Street expectations. The bad: Sales fell 18 percent from the year-ago quarter. Excluding one-time gains and losses, Apple (AAPL) said earnings rose to $75 million, or 50 cents a share, for the quarter ended June 26 from $55 million, or 38 cents, a year ago. Revenue slipped to $1.4 billion from $1.7 billion in the year ago quarter. As promised by co-founder and Interim CEO Steve Jobs at MacWorld two weeks ago, the profit was better than expected. The First Call consensus estimate had been for earnings of 33 cents. "Apple had a terrific quarter," Jobs said Wednesday. "Looking forward, Apple's improved operational efficiency has paved the way for us to aggressively reenter the consumer market with iMac on August 15." The company attributed the successful quarter to record sales of its Power Macintosh G3 computers, as well as strong sales of its PowerBook laptops. Shares closed up 1 at 34 1/2 ahead of the announcement. o~~~ O