Apple Announces US$40 Million Profit, 813,000 Macs Shipped

Apple Computer announced on Wednesday results for its 2nd fiscal quarter ended March 31, 2002.

For the three-month period:

Apple posts a net profit of US$40 million or US$.11 per diluted share, slightly ahead of analyst estimates of US$.10 per share.

Revenues for the quarter were US$1.5 billion, again, slightly above or inline with Wall Street expectations. Revenues were 4% above last yearis results.

Gross margins increased to 27.4 percent versus 26.9 percent in the year-earlier period.

During the quarter Apple shipped 813,000 computers, including 220,000 flat screen iMacs. This represents an 8 percent increase in total unit shipments over last yearis results.

Steve Jobs and Fred Anderson announced that Apple plans to open twenty additional retail stores by the end of the 2002 calendar year.

Looking forward, Apple expects revenues for the 3rd fiscal quarter to be rise incrementally and sequentially to US$1.6 billion and earning per share to either remain at US$.11 per share or rise slightly for the quarter.

The Mac Observer will be offering live coverage of the companyis conference call barring any unexpected technical problems. We will also be bringing Appleis announcement to you as soon as it hits the wire. You can join in the discussion in the thread on the Q2 earnings report in the Apple Finance Boards. We will provide an in-depth review and analysis of Appleis 2nd fiscal quarter results tomorrow morning.

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