CUPERTINO, California?July 16, 2003?Apple? today announced financial results for its fiscal 2003 third quarter ended June 28, 2003. For the quarter, the Company posted a net profit of $19 million, or $.05 per diluted share. These results compare to a net profit of $32 million, or $.09 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.545 billion, up 8 percent from the year-ago quarter and up 5 percent sequentially, and gross margins were 27.7 percent, up from 27.4 percent in the year-ago quarter. International sales accounted for 39 percent of the quarter?s revenues.
Apple shipped 771 thousand Macintosh? units during the quarter.
?This was a great new product quarter for Apple, starting with the iTunes Music Store and the new third-generation iPods, and ending with the announcement of the Power Mac G5 and the developer preview of Panther, the fourth major release of Mac OS X,? said Steve Jobs, Apple?s CEO. ?Customer response to our new products has been very strong, and this quarter we are focused on delivering Power Mac G5s beginning in August and finishing Panther for release later this year.?
?We are very proud to have exceeded our revenue target for the third quarter despite the difficult economic backdrop,? said Fred Anderson, Apple?s CFO. ?We continue to be pleased with our working capital management and our ability to increase cash which totals over $4.5 billion. Looking ahead to the fourth quarter of 2003, we expect an increase in revenues and a slight increase in earnings relative to the June quarter.?
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings.
Apple will provide live streaming of its Q3 2003 financial results conference call utilizing QuickTime?, Apple?s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:30 p.m. PDT on Wednesday, July 16, 2003 at http://www.apple.com/quicktime/qtv/earningsq303/ and will also be available for replay. The QuickTime player is available free for Macintosh and Windows users at http://www.apple.com/quicktime
Source: Apple
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