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Apple Posts $32 Million Q3 Profit

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Apple Posts $32 Million Q3 Profit -- Apple last week announced a $32 million profit for its third fiscal quarter of the year. Revenues for the quarter were $1.43 billion (down 3 percent from the same quarter last year) and gross margins were a still-healthy 27.4 percent (although that too is down from 29.4 percent a year ago). Apple says it shipped just over 800,000 Macs in the quarter, and international sales accounted for 42 percent of revenue. Despite the current economic conditions, Apple remains in good shape compared to most other computer makers, with some $4.3 billion in cash on hand. The company expects a small profit for its next quarter, barring any large non-recurring expenditures. [GD]

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