Apple has released the details of its third quarter financial results for 2000.
The results show Apple shifted more than a million computers in the period. Revenues rose too, up to $1,749 million from $1,683 million last year. Net sales rose 17 per cent in the period. Apple’s net income after operating costs was $200 million, down from $203 million last year.
Apple’s net sales grew in all regions. The Asia-Pacific market saw 23 per cent growth, Europe 19 per cent, the Americas rose 16 per cent and Japan 13 per cent. The highest increase in CPU sales was seen in the Asia-Pacific region, which rose 34 per cent. Macintosh unit sales enjoyed an "overall 12 per cent increase", according to the report.
World-wide growth The report says: "For the first nine months of 2000, net sales increased $1.315 billion, or 27 per cent over the same period in 1999. A 28 per cent increase in year-to-date Macintosh unit sales, reflective of strong growth in all of the company’s geographic-operating segments, was the principal cause of the increase in net sales during the period."
The report also reveals a decline in iMac shipments. 44 per cent of its sales came from iMac products, but shipments were down eight per cent from last year. Apple says this "reflects a sequential decline in iMac unit sales in anticipation of upcoming product updates".
Research investment PowerBook, iBook and Power Mac sales remained strong. Apple’s gross profit margin rose from 27.4 per cent to 29.8 per cent in the third quarter, reflecting recent restructuring efforts. Restructuring cost the company $8 million in the first quarter of 2000. Additional restructuring cost the company £21 million in the fourth quarter of 1999. Apple also expanded its research and development spending by 21 per cent.
Apple finishes the quarter with $3.8 billion in cash and short-term investments. Its inventories remain low - $5 million worth of stock, or less than a day’s inventory. The total value of Apple’s investments in Samsung, ARM, Akamai and EarthLink stood at $1.2 billion - compared to $339 million in September 1999.
The results are available on Nasdaq.