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| Architosh News Reports | |
| Architosh Staff ([email protected]) |
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Apple announces $203 Million Profit for Qtr. 3 - 1999!
Apple Computer today announced their fiscal results for the third quarter of 1999. As industry analysts expected, the results were very positive news for the once "beleaguered computer company", that shows no signs of slowing down its great comeback! This marks the firm's seventh consecutive profitable quarter. A First Call Corp. consensus estimated Apple's stock earnings at 64 cents a share. Apple reported earnings of $1.20 per diluted share on a profit of $203 million, again way over industry expectations. Total revenue for the quarter was $156 billion. A summary chart below shows performance over the previous quarter:
A solid measure of growth is "year-over-year" performance for quarter 3 in 1999. The chart below shows that Apple made a 11 percent increase in revenues from the year-ago period.
Apple's performance is due in part to continuing strong sales of iMac's which drove overall unit growth 40 percent over the prior year. Other financial highlights for the quarter include an ending cash balance of over $3.1 billion, the successful conversion of $661 million of debt into stock, and and ending inventory balance of less than one day, again beating Dell. Apple announced today a plan to repurchase up to $500 million of its common stock. For more information read the press release.
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