This article originally appeared in TidBITS on 1999-01-18 at 12:00 p.m.
The permanent URL for this article is: http://tidbits.com/article/5240
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Apple Records $152 Million Profit

by Geoff Duncan

Apple Records $152 Million Profit -- Apple announced a net profit of $152 million on $1.7 billion in revenue for its first fiscal quarter of 1999, marking Apple's fifth consecutive profitable quarter. Although the results include a one-time $29 million gain from selling holdings in ARM Ltd., Apple also sold 519,000 iMacs during the quarter, contributing to a 49 percent increase in unit shipments compared to the same quarter a year ago. Apple also wrapped up the quarter with a scant two days of inventory worth about $25 million, indicating the company continues to hone its newfound manufacturing and distribution efficiency. [GD]

<http://www.apple.com/pr/library/1999/jan/ 13earnings.html>
<http://www.arm.com/>