Apple Posts $19 Million Q3 Profit

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 three-month period; that’s 60,000 more than Apple sold in its previous fiscal quarter. 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 and the rumored 15-inch aluminum PowerBook G4). 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. [GD]

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