SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: January 6, 1998
Date of earliest
event reported: January 6, 1998
Apple Computer, Inc.
(Exact name of registrant as specified in its charter)
California 0-10030 94-2404110
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
1 Infinite Loop, Cupertino, California 95014
(Address of principal executive offices)
Registrant's telephone number, including area code: (408) 996-1010
Not Applicable
(Former name or former address, if changed since last report.)
Exhibit Index on Page 4
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INFORMATION INCLUDED IN THIS REPORT
Items 1 through 4, 6 and 8 Not Applicable.
Item 5. Other Events.
(i) Reference is made to the press release issued to the public by the
registrant on January 6, 1998, the text of which is attached hereto as an
exhibit, for a description of the events reported pursuant to this Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
99.1. Text of press release dated January 6, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
APPLE COMPUTER, INC.
By: /s/ Fred D. Anderson
Fred D. Anderson,
Executive Vice President and Chief
Financial Officer
Date: January 8, 1998
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INDEX TO EXHIBITS
Exhibit Document Page
99.1 Text of Press Release dated January 6, 1998 5
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Apple Expects First Quarter Profits To Top $45 Million
MACWORLD EXPO, SAN FRANCISCO--Jan.6, 1998--Apple Computer, Inc. today
announced that it expects to report net profits exceeding $45 million on
revenues of approximately $1.575 billion when it reports its fiscal 1998 first
quarter financial results on Jan. 14, 1998.
"We are thrilled that our new plans are beginning to work," said Steve Jobs,
Apple's Interim CEO. "While there is still lots of work to do, Apple is clearly
coming back as a major player."
First quarter profitability was primarily due to higher gross margins and
continued cost cutting. The Company also benefited from the following new
products and initiatives announced during the quarter:
* Apple's new Power Macintosh G3 computers,
launched on Nov. 10, 1997 significantly
outsold Apple's forecasts for the
quarter--over 133,000 units shipped versus
a forecast of 80,000 units--becoming
Apple's most successful new product launch
in history. Power Macintosh G3 computers
outperform the fastest Intel Pentium II
based computers, yet are priced
competitively with systems from Dell and
Gateway.
* The on-line Apple Store
(http://www.apple.com) has become one of
the top-ten grossing e-commerce sites on
the Internet since opening its e-doors on
Nov. 10, 1997.
* Apple's new build-to-order manufacturing
worked, confounding skeptics. Apple now
offers its Power Macintosh G3 computers in
over 500 custom configurations through its
on-line Apple Store and its new
build-to-order manufacturing. Thousands of
orders were received and shipped during
the quarter.
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* Apple's new partnership with CompUSA, the
world's largest computer retailer, is
producing results. During the quarter
CompUSA outfitted 57 of its computer
superstores with dedicated Apple "store
within a store" environments, sending
CompUSA's Macintosh sales soaring. In the
beginning of the quarter, Macintosh sales
were 3 percent of CompUSA's overall PC
business. Now, in the 57 stores outfitted
in the store within a store format,
Macintosh sales are 14 percent of
CompUSA's PC business. CompUSA expects all
of their computer superstores to be
outfitted with the new Apple environments
by February.
Jobs kicked off Apple's second fiscal quarter with his Macworld keynote
address. He was joined onstage by senior executives from Microsoft, Oracle,
Macromedia and Broderbund--four of the more than 50 software developers
announcing new or updated products for the Macintosh at Macworld.
Microsoft announced that Office 98 Macintosh Edition would begin shipping
later this month--months ahead of their Windows version. This version of
Office offers Macintosh users advanced functionality, such as self-repairing
applications, not currently available to Windows users. In addition, Apple
announced Mac OS 8.1, an updated version of the successful Mac OS 8 software
launched last August, and demonstrated QuickTime 3.0, the newest release
of Apple's industry standard multimedia software.
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.
These statements regarding estimated results are preliminary and based on
partial information and management assumptions. The Company expects to
announce its actual results for the first quarter of fiscal 1998 on Jan.
14, 1998.
The information in this release regarding expected revenues and profitability
is forward looking and preliminary. Actual final results for the quarter could
differ depending on a number of factors, including accounting adjustments made
during the course of closing the quarter and the roll-up of actual financial
data from the Company's various business units. For a more detailed discussion
of factors that affect the Company's operating results, interested parties
should review the Company's SEC reports, including Apple's Annual Report on
Form 10-K for the year ended Sept. 26, 1997.
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[Press Information Contact:]
Katie Cotton
(408) 974-7269
email: [email protected]
Investor Relations Contact:
Nancy Paxton
(408) 974-5420
email: [email protected]
NOTE TO EDITORS: For additional information visit Apple's website
(http://www.apple.com/source/), call Apple's Media Helpline at (408) 974-2042,
or contact Cara Lewis at our PR agency, Niehaus Ryan Group, Inc.,
(650) 827-7052.
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Apple's home page on the World Wide Web:
http://www.apple.com/
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Apple, the Apple logo, Macintosh, Power
Macintosh, and QuickTime are registered
trademarks of Apple Computer, Inc. Additional
company and product names may be trademarks or
registered trademarks of the individual
companies and are respectfully acknowledged.
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