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Apple Posts $38 Million Profit

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Apple Posts $38 Million Profit -- Apple Computer posted a $38 million profit for its first fiscal quarter of 2002, directly in line with analysts' expectations for the company. Despite an aging product line, Apple shipped 746,000 Macs and 125,000 iPods during the quarter, and posted revenue of $1.38 billion on gross margins of 30.7 percent. Although Apple didn't break out sales at the 27 Apple retail stores around the U.S., they did say that the stores received over 800,000 visitors in December of 2001 alone. International sales accounted for 48 percent of Apple's revenues. Notably, Apple said initial orders for the newly redesigned G4 iMac were greater than expected, and they expected revenue would rise in the second fiscal quarter of the year - highly unusual for a computer maker in the current sluggish economy. [GD]

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