Apple warns of an earnings dip

Article Abstract:

Apple Computer Inc cautions that earnings for the company's 3rd qtr ending Jun 30, 1991, might decline compared with the same period last year. Apple earned $119.8 million (96 cents a share) in 3rd qtr 1990. It cites a strengthened dollar and the company's shift to lower-priced products as reasons for the decline. Apple's stock price fell $7.75 when the news was announced, closing at $42.25 in over-the-counter trading on May 1, 1991. Later in May, Apple will release its System 7.0, which is a new version of the operating system for the Macintosh, and other new programs are expected at the same time. These planned product releases generate hope that Apple's earnings will improve.

Computers, peripherals & software, Profits, Outlook, Third Quarter, Profit, Stock

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Apple Computer profits off; cheaper machines lift sales

Article Abstract:

Apple Computer Inc reports increased revenue, but a decline in profit for the 2nd fiscal qtr in 1991. Analysts claim that the computer maker's strategy of obtaining a greater market share with low-cost microcomputers accounted for the earnings for the period, which was $131.1 million, or $1.07 a share, as compared with $131.8 million, or $1.04 a share, for the same period in 1990. Investors were concerned about the lower-than-expected results and sent the stock down $9.50 a share, to close at $64.50 a share on Apr 15, 1991. Apple reported a 18.6 percent rise in sales for the 2nd fiscal qtr in 1991, up to $1.59 billion from $1.34 billion during the same period in 1990.

Business planning, Market share, Sales, Revenue, column, Low Cost, Financial Report, Second Quarter

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Cost cuts announced by Apple

Article Abstract:

Apple Computer Inc, facing an industry wide slowdown in the microcomputer market, has decided to implement a number of cost cutting measures. The measures include a revised profit sharing plan, fewer salary review sessions, elimination of company cars for executives and employee reductions from attrition and layoffs. Apple's revenues for its first quarter are less than expected, due to weak Christmas sales, and are below the levels of a year ago. Analysts are not worried, however, saying the reductions are prudent and do not signal worse times ahead.

Analysis, Economic aspects, Management, Layoffs, Layoff, Cost control, Cost Reduction

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