Abstracts » Business, general

Dwindling education sales take a bite out of Apple's bottom line

Article Abstract:

Apple Computer is warning that their fourth quarter earnings won't meet expectations because of a loss of education contracts, that make up about 40% of the computer company's U.S. sales. Dell Computer has muscled in on the school turf with Windows-based personal computers. Apple's are still to be found in 40% of U.S. schools but many educators are seeing a Windows-based future not only because of prevalence, but because of cost.

Elementary and secondary schools, Public Schools, Contracts, Computer-assisted instruction, Computer assisted instruction, Dell Inc., DELL

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Apple posts disappointing quarter and warns of another to come

Article Abstract:

Apple Computer had net income of $170 mil on revenue of $1.87 bil for fiscal fourth quarter. Year-ago results for the same period were $111 mil revenue on $1.34 bil. For the year, the company revenues of $7.98 bil equaled last year's result. Apple made only a slight profit. Apple attributed slower sales to pricing new products, like the G4 Cube, too high. It also reorganized its school sales force in July, a move the company now says was poorly timed for back to school marketing efforts. Apple's new OS X software is due for release the first half of next year.

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Apple reports first loss in 3 years; stock slips

Article Abstract:

Apple Computer reported a $247 mil loss for fiscal 1st quarter, on revenue of $1 bil. In the same period 1999, the computer maker earned $183 mil on $2.34 bil sales. The quarter's net loss is $195 mil if gains on investments are factored in. Apple has lost market share at schools and universities to 'Wintel' machines. The company has lowered prices to move inventory and looks for a return to profitability by March 2001.

Apple Inc.

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