Apple Posts $38 Million Q1 Profit

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Date: Thursday, January 17th, 2002, 00:51
Category: Archive

Even in difficult times for the industry, yesterday Apple posted a US$38 million profit, up from a $195 million loss a year previous, with $1.38 billion in revenue, up 37% from a year previous, and shipped 746,000 Mac units, in the quarter ending December 29.

CFO Fred Anderson’s quarterly conference call yielded some interesting tidbits. Portable users remained a key element of Apple’s sales, accounting for 40% of revenues. Apple fell short of expectations in part due to lackluster iMac sales, as economic times and the anticipated launch of a new iMac made buyers shy away from the iMac’s aging form factor. In the meantime, PowerBook sales rebounded, and the ice-colored iBook continued its tremendous success. The iBook has already sold nearly as many units since its introduction last spring than its candy-colored predecessors sold in their entire 20-month life cycle.

The other Apple success story this quarter is the Apple Store. An astounding 99% of visitors surveyed would recommend the store to a friend, unheard of in the retail business. (Was that right after a grand opening?!) And if you’re waiting for an iMac, here’s some good news: Apple will be poneying up the cash to deliver all those iMacs via air freight to speed delivery. No more complaints, folks, about the US$1,299 starting price of those iMacs: Apple will continue to manufacture two sub-$1,000 models in the classic form factor.

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