Apple Posts $46 million Q2 Profit — Apple Computer announced a $46 million profit for its second operating quarter of 2004, based on revenue of $1.9 billion and sales of nearly 750,000 Macs and over 800,000 iPods. International sales accounted for 43 percent of the quarter’s revenue, and gross margins were a still-substantial 27.8 percent. The quarterly profit takes into account a $7 million restructuring charge; Apple will likely incur restructuring charges next quarter as well, as the company announced plans to further streamline processes by shutting down its Sacramento, California, manufacturing facility and moving those operations to a supplier in southern California. Nonetheless, Apple remains in good financial shape, having completed its third quarter of double-digit revenue expansion, keeping $4.6 billion in cash on hand, and having no corporate debt. [GD]
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