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.
- Sales: $1.56 billion, up 11% from $1.4 billion in 1998 Q3.
- 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).
- Earnings: $114 million, up 52% from $75 million in 1998 Q3.
(Includes one-time gain of $89 million from sale of ARM stock.)
- Overall unit sales increased 40% over 1998 Q3 (last quarter before the iMac). Compare this with a 21% industry growth rate.
- Gross margin increased from 25.7% to 27.4%.
- Unit shipments: 905,000 (2,676,000 so far in FY 1999).
- iMacs shipped: 487,000.
- Cash reserves: $3.1 billion.
- International sales: 45% of total sales.
- Japan sales up 98%.
- 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.
- Apple reports third quarter profit of $203 million, Apple Computer
- Apple fiscal Q3 earnings report, AAPL statistics, Apple Investors
- Apple posts higher than expected profits, ZDNet
- Apple earnings announcement update, MOSR
- Apple posts $203 million profit, MacCentral
- Apple profit: $203 million, MacWeek
- MacNN report, 7/14/99
- iMac helps Apple beat the street in the third quarter, Infoworld
- Apple beats expectations, announces buyback, Cnet
- Apple dishes up shiny 3Q, CNNfn
- Strong iMac sales boost Apple results, CBS MarketWatch