According to the response from Wall Street Apple is going out of business all of a sudden. Shoot $75-85 million sound okay to me even if it is a bit lower. Sounds like they announced the g4 a tad early and Motorola isn't quite geared up yet.
Bob
Apple Expects to Report Fourth Quarter Earnings of $75 to $85 Million
CUPERTINO, California, Sept. 20, 1999-Apple today announced that units, revenues and earnings for the September quarter will be below last quarter's levels due to lower than planned deliveries of G4 processor chips from Motorola. The G4 processor is used in Apple's newly-announced Power Mac G4 computers.
The Company indicated that it expects to report earnings between $75 million and $85 million when actual results are announced on October 13, 1999.
"We are very disappointed that this quarter's deliveries of G4 processors will be lower than planned. Orders for the Power Mac G4 have been strong and we anticipate ending the September quarter with a substantial order backlog," said Fred Anderson, Apple's CFO. "We continue to expect significant year-over-year growth in units and revenue in the December quarter."
"Apple has received orders for over 150,000 Power Mac G4s since the product was announced three weeks ago, and we regret that we will not be able to ship them all this quarter," said Steve Jobs, Apple's interim CEO. "This is a temporary issue, and we hope to catch up early in the coming quarter."
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 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; the ability of the Company to successfully evolve its operating system, and impact on the Company's business due to internal systems or systems of suppliers, infrastructure providers and other third parties adversely affected by year 2000 problems. 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-K for the 1998 fiscal year, and the Company's Form 10-Q for the quarter ended June 26, 1999.
Apple Computer, Inc. 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 now recommitted to its original mission-to bring the best personal computing products and support to students, educators, designers, scientists, engineers, businesspersons and consumers in over 140 countries around the world.
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