The quarter’s results included a $1 million favorable after-tax impact resulting from realized investment gains. Excluding these gains, the Company’s net profit for the quarter would have been $65 million, or $.18 per diluted share.
Apple shipped 850 thousand Macintosh® units during the quarter.
“We accomplished a lot in FY 2001, even though it was a challenging year for us and our industry,” said Steve Jobs, Apple’s CEO. “We gained market share in education, and iBook sales to education tripled last quarter; we launched Mac OS X, and released the stunningly fast 10.1 update in September; we opened our first Apple retail stores, and are on track to open 25 stores across the U.S. by the end of 2001.”
“We’re pleased to have delivered solid results while maintaining lean channel inventories in a very challenging environment,” said Fred Anderson, Apple’s CFO. “Our balance sheet remains very strong, with over $4.3 billion in cash. Given the uncertain global political environment and weak economy, we are targeting December quarter revenues of at least $1.4 billion and EPS of at least $.10.”
For the year, the Company reported a net loss of $25 million on revenues of $5.36 billion, compared to net earnings of $786 million on $7.98 billion in revenues in 2000.
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 Q4 2001 financial results conference call utilizing QuickTime®, Apple’s standards-based technology for live and on-demand audio and video streaming.
Except for the historical information contained herein, the statements in this press release are forward-looking statements that involve risks and uncertainties. Potential risks and uncertainties include, without limitation, continued competitive pressures in the marketplace; the effect competitive and economic factors and the Company’s reaction to them may have on consumer and business buying decisions with respect to the Company’s products; the ability of the Company to make timely delivery of new programs, products and successful technological innovations to the marketplace; the continued availability of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; possible disruption in commercial activities caused by terrorist activity and armed conflict, such as changes in logistics and security arrangements, and reduced end-user purchases relative to expectations; and the ability of the Company to successfully evolve its operating system. More information on potential factors that could affect the Company’s financial results is included from time to time in the Company’s public reports filed with the SEC, including the Company’s Form 10-Q for the quarter ended June 30, 2001, and the Company’s Form 10-K for the 2001 fiscal year to be filed with the SEC.
Apple, the Apple logo, Macintosh, Mac OS, iBook and QuickTime are either registered trademarks or trademarks of Apple. Other company and product names may be trademarks of their respective owners.