Apple Meets Financial Projections
The computer maker remained profitable in its recent quarter and posted sales of $1.4 billion.Apple Computer on Tuesday posted quarterly earnings in line with recently lowered market expectations. For the quarter ended June 30, the computer maker posted a net profit of $32 million, or 9 cents per diluted share. These results compare with a net profit of $61 million, or 17 cents per diluted share, in the year ago quarter. Revenues for the quarter were $1.43 billion, down 3 percent from the year ago quarter. The showing largely mirrored consensus Wall Street expectations, according to Thomson Financial/First Call. However, analyst had lowered their projections last month after Apple warned revenues would fall below its own earlier projections.
During the quarter, Apple shipped 808,000 Macintosh units, a decline of 2 percent from the year ago quarter.