Apple today posted a net profit of $66 million, or $0.19 per diluted share on revenues of $1.45 billion, which were down 22 percent from the year-ago quarter. Gross margins were 30.1 percent, compared to 25.0 percent in the year ago quarter. International sales accounted for 41 percent of the quarter's revenues.

The quarter's results included a $1 million favorable after-tax impact resulting from realized investment gains. Excluding these gains, the Company's net profit for the quarter would have been $65 million, or $0.18 per diluted share versus the $0.16 per share estimates by analysts. AAPL traded down after hours due in part to its revised outlook for the December quarter, although it did beat analyst expectations for its forth fiscal quarter. Trading on Instinet after-hours trading was halted until 5:05 pm ET.

Apple said it shipped 850,000 Mac units during the quater. Apple also said its on track to open 25 stores by the end of the year and that it is targeting December quarter revenues of at least $1.4 billion and EPS of at least $0.10." For the 2001 fiscal year, Apple totalled a net loss of $25 million on revenues of $5.36 billion, compared to net earnings of $786 million on $7.98 billion in revenues in 2000.

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by MacNN Staff