Apple Posts US$8 Million Loss; Aside From Non-Recurring Charges, Company
Earns US$11 Million
by Bryan Chaffin
Today at 2:00 PM PST, Apple held its quarterly conference call (see TMO's
live coverage for more information), where the company announced a net loss
of US$8 million dollars or two cents per share. During the same quarter last
year, Apple posted a net profit of US$38 million, or eleven cents per share.
Apple was expected to post a profit of some US$11 million, or 3 cents per
share.
Excluding non-recurring charges, Apple would have met that goal, but Apple
CFO Fred Anderson cited a US$17 million restructuring charge and a US$2
million accounting "transition." Both charges are considered non-recurring
charges, and are typically ignored by Wall Street analysts, but included by
mainstream reporters. Revenue for the quarter was up 7% to US$1.47 billion
from the year-ago quarter, and Apple cited increased beyond-the-box sales,
and increased software revenues as the big reason for that increase. This
includes such things as .Mac, the iPod, and sales of third-party products at
the Apple Store.
Apple also said during it's conference call that the company lost US$1
million on its retail operations, but said that US$23 million was earned by
the company as a whole in manufacturing profits directly stemming from
retail operations.
Apple shipped 743,000 Macs during the quarter, "about even with the year-ago
quarter," and 216,000 iPods. Half of the iPods were Windows unit.
The company remains the only PC manufacturer besides Dell to earn a profit
on its PC operations. From Apple:
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Tom