Apple Records $152 Million Profit — Apple announced a net profit of $152 million on $1.7 billion in revenue for its first fiscal quarter of 1999, marking Apple’s fifth consecutive profitable quarter. Although the results include a one-time $29 million gain from selling holdings in ARM Ltd., Apple also sold 519,000 iMacs during the quarter, contributing to a 49 percent increase in unit shipments compared to the same quarter a year ago. Apple also wrapped up the quarter with a scant two days of inventory worth about $25 million, indicating the company continues to hone its newfound manufacturing and distribution efficiency. [GD]
Subscribe today so you don’t miss any TidBITS articles!
Every week you’ll get tech tips, in-depth reviews, and insightful news analysis for discerning Apple users. For 28 years, we’ve published professional, member-supported tech journalism that makes you smarter.
Registration confirmation will be emailed to you.