Apple Posts $19 Million Q3 Profit

Apple Computer announced a $19 million profit for its third fiscal quarter of 2003. The company shipped 771,000 Macs during the quarter; that’s 60,000 more computers than Apple sold in its previous fiscal quarter, and while iMac and iBook sales increased a bit both PowerBook and Power Macintosh sales dropped (the latter probably in expectation of the not-yet-shipping Power Mac G5 models). Although international sales accounted for only 39 percent of the quarter’s revenues and Apple’s margin dropped to a still-healthy 27.7 percent, the company still has over $4.5 billion in cash and short term investments, and expects its fourth quarter will bring an increase in both revenue and earnings.