Apple Sales, Profits Down For 3Q

Apple

In the quarter, sales fell 3 percent to $1.43 billion, compared with $1.48 billion a year earlier, according to Apple. The Cupertino-based computer maker shipped 808,000 Macintosh units in the quarter, down 2 percent from 827,000 in third-quarter 2001 and 1 percent from 813,000 in second-quarter 2002.

The iMac desktop line, including the new eMac, led the way in third-quarter 2002 sales with 378,000 units shipped, followed by the iBook (169,000 units), Power Mac G4 (167,000 units, including servers) and PowerBook (94,000 units).

Apple's earnings for the quarter were $32 million, or 9 cents per share, compared with a profit of $61 million, or 17 cents per share, a year ago. Thomson Financial had issued a consensus earnings forecast of 9 cents per share. In mid-June, Apple revised its third-quarter guidance from revenue of $1.6 billion and earnings of 11 cents per share to sales of $1.4 billion to $1.45 billion and earnings of 8 cents to 10 cents per share.

On July 17, Apple CEO Steve Jobs is slated to deliver the keynote address at the Macworld New York Expo at Manhattan's Jacob Javits Center. "Even in this extended worldwide downturn, Apple is continuing to be profitable and continuing to innovate," Jobs said in a statement. "We're working hard to attract new customers with our 'Switchers' advertising campaign and our 31 retail stores, and we're continuing to invest in a strong slate of new products, some of which we'll talk more about at Macworld New York."

Apple forecast virtually flat results for its upcoming fiscal 2002 fourth quarter. "We expect September quarter revenues to be approximately flat with the June quarter and expect a slight profit for the quarter before any nonrecurring items," CFO Fred Anderson said in a statement.