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AAPL Stock: 423 ( -8.77 )

http://www.macnn.com/articles/03/04/16/apple.posts/

Apple posts profit of $14 million, $0.04 eps

updated 04:25 pm EDT, Wed April 16, 2003

 
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Apple today posted a net profit of $14 million, or $.04 per diluted share for its fiscal 2003 second quarter ending March 29, 2003. These results compare to a net profit of $40 million, or $.11 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.475 billion, down 1 percent from the year-ago quarter, and gross margins were 28.3 percent, up from 27.4 percent in the year-ago quarter. International sales accounted for 47 percent of the quarter's revenues. Apple said it shipped 711,000 Macs during the quarter: "Our 'year of the notebook' is off to a great start, led by the incredible demand for our new aluminum 12-inch and 17-inch PowerBook G4s...This quarter over 40 percent of the Macs we shipped were notebooks -- our highest percentage ever and well ahead of the industry average." Analysts had expected a profit of $0.02 per share.

Apple said it hit its revenue target for the second quarter while maintaining channel inventories under 4.5 weeks: "Continued strong asset management enabled us to increase cash to over $4.5 billion. Looking ahead to the third quarter of 2003, we expect revenue to be relatively flat with the March quarter and expect a slight profit for the quarter," said Fred Anderson, Apple's CFO.


by MacNN Staff

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Comments

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    711,000?!?

    That's it? That's a terrible number. They need to move a lot more units out the door.

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    & snip a few bonuses...

    ...like Stevo's from $77m? to under that $22m mark & we DOUBLE Apple's profit to $0.08/share...

    Doh!

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    all apple's profits...

    ...are belong to Steve

    Sorry, couldn't resist. Bring on the 970s and clean up the USB panics, and we'll be fine.

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    Steve Bonus

    I

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    Steve's Bonus

    Sorry about that short message -- enter key is awfully badly placed I guess.

    I agree with earlier message about snipping steve's bonuses -- Its obscene that anyone ceo enjoys a yearly remuneration that is higher than the companies profit for the year. Particularily when it is so out of line with what remunerations are for other larger companies.

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    711,000

    . . . just think how big that number would have been if they could ship some stuff - like 17"s?

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    whhhhhhhoooooo

    makey money = good


    how's gateway's numbers?

    They do have machines with more megahertz U KNOW?!

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    well...

    Lets see Notebooks go up...

    iMacs way down. no wonder its 40%....

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    how many 17" PB shipped

    I wonder how many units shipped for 17" PB

  1. MacNN.com Reader

    Fresh-Faced Recruit

    Joined: Jul 2001

    0

    Re: How many 17" PBs

    14,000 through the end of Apple's 2nd quarter.

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