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Last Updated: Wednesday, 16 April, 2003, 21:45 GMT 22:45 UK
Apple upbeat despite profit dip
Steve Jobs
Jobs: 'year of notebook is off to a great start'

Computer maker Apple has reported a 65% drop in quarterly profits.

But the figures were comfortably ahead of Wall Street expectations - bouyed by healthy sales of notebook PCs.

Meanwhile, Sun Microsystems reported a slim quarterly profit of $4m, reversing a $37m loss in the same period last year.

But Sun's sales revenue continued to decline for the eighth consecutive quarter.

Notebook boost

Apple's profits - for the three months to the end of March - were $14m compared to $40m in the same period last year.

Chief executive Steve Jobs said: "Our 'year of the notebook' is off to a great start, led by the incredible demand for our new aluminum 12-inch and 17-inch PowerBook G4s.

"This quarter, over 40% of the Macs we shipped were notebooks - our highest percentage ever and well ahead of the industry average."

Apple sales in the period were more or less in line with expectations at $1.5bn, about $20m less than the same period last year.

But although notebook sales strong, sales of the iMac dropped substantially on last year.

Flat sales

Apple sold 256,000 iMacs and eMacs in the March quarter, down from 298,000 in the December quarter and 372,000 models sold a year ago.

Over the next quarter, Apple said it would make a slight profit on "relatively flat sales".

After initially rising quite sharply in after-hours trading, Apple shares gave up most of their gains.

Meanwhile, in a separate developent, Mr Jobs denied media reports that Apple is in talks to buy Vivendi Universal's record label.




SEE ALSO:
Apple denies Universal bid talk
16 Apr 03  |  Business
Microsoft profits boost
15 Apr 03  |  Business
Sun shines 36m into UK plant
25 Feb 03  |  Scotland


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