Apple Reports Q3 Profit of US$163 Million

WASHINGTON (07/18/2000) - Apple Computer Inc. reported its eleventh consecutive profitable quarter Tuesday, posting US$163 million in earnings, excluding after-tax gains, for the three-month period that ended July 1, 2000, an increase of 43 percent over the same quarter last year.

The results translate into a gain of 45 cents per diluted share, up 29 percent from the year-ago quarter, and just ahead of the 44 cents per diluted share Apple was expected to post according to a survey of 18 analysts polled by First Call/Thomson Financial.

The $163 million in profit excluded a $37 million after-tax gain from the sale of 4.95 million shares of ARM Holdings PLC, Apple said in a statement.

Apple sold just over 1 million computers during the quarter, including more than 350,000 Power Mac G4 systems and nearly 450,000 iMac systems. An estimated 3.7 million iMacs have sold since the computers began shipping in August of 1998, and Apple enjoyed a strong quarter for its professional products, especially the PowerBook, Steve Jobs, Apple's chief executive officer, said in the company statement.

Revenue for the quarter was $1.82 billion, up 17 percent from the year-ago quarter, and gross margins were 29.8 percent, up from 27.4 percent in the year-ago quarter, the release said. International sales accounted for 46 percent of the quarter's revenue.

Apple, based in Cupertino, California, can be reached at +1-408-996-1010 or at

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