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Article: Apple warns of expected first-quarter loss.(Company Financial Information)
- Article from:
- Network World
- Article date:
- December 11, 2000
- Author:
CopyrightCOPYRIGHT 2000 Network World, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apple Tuesday added its name to the ever-growing list of technology companies issuing profit warnings. The company said it would report its first loss in 3 years for its first fiscal quarter of 2001.
Due to slower than expected sales in October and November, Apple expects its first-quarter earnings and revenue will be well below its previous expectations, senior company executives said. The first quarter is due to close Dec. 30 with the final results to be announced Jan. 17, 2001.
Apple is predicting it will record a net loss, excluding investment gains, of between $225 million and $250 million, on revenue of around $1 billion. This ...