Thursday, January 16, 2003
Apple Computer posted its second consecutive quarterly net loss as a restructuring charge related to job cuts and a plant closure.
Apple said it expected to buck seasonal weakness by posting flat revenues and a slight net profit for the current quarter.Apple posted a net loss of $8 million, or 2 cents per share for its fiscal first quarter ended Dec. 28, compared with year-earlier net income of $38 million, or 11 cents per share.
Excluding a $17 million after-tax restructuring charge and a $2 million after-tax accounting transition adjustment, Apple said it would have earned 3 cents per share.Revenue was $1.47 billion, up 7 percent from the $1.38 billion a year earlier, but slightly below the average Wall Street forecast of $1.49 billion.
"We're expecting revenue to be flat with the December quarter, which runs counter to the normal industry trend of a decline," said Anderson. The company would see a net profit in the first quarter, he said.
By: DocMemory
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