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This article originally appeared in TidBITS on 1996-04-01 at 12:00 p.m.
The permanent URL for this article is: http://tidbits.com/article/1054
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Apple to Lose $700 Million

by Adam C. Engst

Apple to Lose $700 Million -- In a press release last week, Apple CEO Gil Amelio announced that Apple anticipates posting a net after-tax loss of about $700 million for the second fiscal quarter. About half of the charges are related to inventory write-downs and another quarter to restructuring charges. Amelio said, "I'm confident at this point that I know what the problems are and that they are fixable," and he said that Apple would begin to articulate recovery plans in early May. [ACE]

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