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Fourth Down, $100 Million To Go

Fourth Down, $100 Million To Go — Following a surprise $25 million profit during its last fiscal quarter, Apple said it expects a loss of between $100 to $150 million for the first fiscal quarter ending 27-Dec-96. Apple blamed the decline on slow holiday Performa sales and continued unavailability of PowerBook models. Although most Apple executives did not expect to post back-to-back profits for the two quarters, the deeper loss could force more restructuring than planned, and possible layoffs. Apple will announce the actual fiscal results on 15-Jan-97. [JLC]

<http://product.info.apple.com/pr/press.releases /1997/q2/970103.pr.rel.earnings.html>

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