Digital net up as Apple posts decline

Article Abstract:

On Thursday, Oct 17, 1991, DEC reports earnings of $28.6 million for 1st qtr FY 1992, ending Sep 28, 1991, up slightly from $26.2 million for 1st qtr FY 1991. Revenues increased 6.5 percent from $3.09 billion in the FY 1991 quarter to $3.29 billion in the FY 1992 quarter. DEC senior VP for operations John F. Smith was pessimistic, seeing continuing economic malaise in all markets around the world. DEC's stock fell $3 to $56.875 on the New York Stock Exchange. Analysts say DEC has one of the strongest balance sheets in the computer industry, including $2 billion in cash on hand. Apple reports earnings of $81.2 million for 4th qtr FY 1991, ending Sep 27, down from $98.5 million in 4th qtr 1990. Sales over the same period rose from $1.35 billion to $1.51 billion. Apple's yearly earnings were $309.8 million, down from $475 million in FY 1990. Sales were $5.56 billion in 1990 and $6.31 billion in 1991.

AAPL, Revenue, Apple Inc., Stock, Hardware Vendors, Annual Report, Fourth Quarter, First Quarter, Reduction

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Profits off by 28% at Digital

Article Abstract:

DEC reports that profits for its 2nd qtr FY 1991 ending Dec 29 are down 28 percent from the same period a year ago. Despite the year-to-year decline analysts say DEC may finally be headed back in the right direction, and the company's stock jumped $6.625 to close at $59.375 on the news. For the quarter DEC's net income is $111.1 million on revenues of $3.3 billion, compared with income of $155.4 million on $3.1 million in revenues for the comparable period in FY 1990. Analysts say DEC's strong cost-cutting moves are paying off. The firm recently announced the first layoffs in its history; some 3,000 jobs will be eliminated with associated yearly savings of $1 billion.

Layoffs, Layoff, Financial Analysis Software, Computer Industry, Second Quarter

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