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Apple Posts $8 Million Loss

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Apple Posts $8 Million Loss -- Apple Computer last week announced an $8 million loss for its first fiscal quarter of 2003. The results include one-time charges for restructuring and an accounting transition adjustment; without these items, Apple would have had an $11 million profit for the quarter. Apple shipped 743,000 Macs during the quarter - on par with the same period a year ago - and although gross margins were down to 27.6 percent, those were on revenue of $1.47 billion, up 7 percent from the same quarter the year before. International sales accounted for 43 percent of Apple's revenue. Apple also noted it was able to reduce channel inventories 11 percent during the quarter, which bodes well for the new PowerBooks just announced at Macworld Expo. [GD]

<http://www.apple.com/pr/library/2003/jan/ 15results.html>
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