Apple revenue up 37 per cent

Apple revenue up 37 per cent

Apple Computer met the earnings expectations of Wall Street analysts when it reported net income of US$38 million for its first fiscal quarter of 2002.

The company had a dismal first fiscal quarter in 2001, when it posted a net loss of $195 million due to delays of its OS X operating system and excess inventory problems.

Revenue for the first quarter of fiscal 2002 was $1.38 billion, up 37 per cent from a year ago, with international sales contributing 48 per cent.

Apple shipped 746,000 Macintosh computers and over 125,000 iPod music players during the quarter. The company had more than 800,000 visitors to its Apple retail stores in December.

Looking to the second quarter, Apple expects revenue of about $1.5 billion.

The company expects stronger growth for the second half of the fiscal year, or the six month-period beginning in March. The growth will be driven by sales of new and recently launched products like the iPod, Apple-only software such as iTunes and iPhotos, the transition to OS X, and sales at Apple retail stores.

Apple took in revenue of $48 million from its retail stores during the quarter just ended.

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