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July 17, 1997updated 05 Sep 2016 1:05pm


By CBR Staff Writer

Leaderless Apple Computer Inc’s third quarter wasn’t quite as bad as analysts had been forecasting. Still, the net loss of $56m was more than the $32m it reported in the same quarter last year – up 75% – even if it wasn’t as bad as the $68m or so predicted. Revenue was down 22% at $1.7bn compared with $2.2bn last year. The good news, if you can call it that, is that the company was able to cut its operating loss to $60m, compared with the second quarter’s loss of $186m excluding restructuring charges and $116m in the second quarter of 1996. Margins were up to 20% from 18.9% a year ago. Operating expenses of $408m compare with $519m a year ago. It says high-end Mac products and education markets were strongest earners. Apple says it won’t get back into the black in its fourth quarter. At the nine month mark sales are $5.46bn, down 27% from $7.51bn, losses are $884m compared with $841m. International sales accounted for 53% of revenue.

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