Apple Earnings, Third Quarter 1999

1999 – Apple did it again. Not only did they turn a profit, but they exceeded analyst’s expectations. This is a brief summary of those results.

  1. Sales: $1.56 billion, up 11% from $1.4 billion in 1998 Q3.
  2. Net profit: $203 million, up 101% from $101 million in 1998 Q3 (this includes one-time gain of $89 million from sale of ARM stock).
  3. Earnings: $114 million, up 52% from $75 million in 1998 Q3.
    (Includes one-time gain of $89 million from sale of ARM stock.)
  4. Overall unit sales increased 40% over 1998 Q3 (last quarter before the iMac). Compare this with a 21% industry growth rate.
  5. Gross margin increased from 25.7% to 27.4%.
  6. Unit shipments: 905,000 (2,676,000 so far in FY 1999).
  7. iMacs shipped: 487,000.
  8. Cash reserves: $3.1 billion.
  9. International sales: 45% of total sales.
  10. Japan sales up 98%.
  11. American sales up 28%.

That’s seven consecutive profitable quarters for Apple. Apple stock is at a six-year high. And the Consumer Portable hasn’t even been released yet, let alone the next generation iMac and Power Mac.

Further Reading

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