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June 11, 1987

APPLE COMPUTER LOOKS FOR $2,500m SALES THIS FISCAL; EUROPEAN SALES TO RISE 50%

By CBR Staff Writer

Apple Computer Inc is extremely bullish about prospects for its current fiscal year to September: in an interview with Reuters, treasurer Robert Saltmarsh said that sales overall are likely to be up 30% on last year’s $1,900m, and that European sales are likely to be 50% up on the 300m for fiscal 1986. The company noted that last year, foreign business accounted for 26% of the total, but it is Apple’s stated aim to grow the proportion substantially over the next two or three years. The company’s cashpile, under $600m at the end of last fiscal, has grown to $700m. Saltmarsh mentioned, but without comment, analysts’ estimates that earnings per share would be $2.70 to $3 even this year, compared with the $2.39 achieved last year.

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