San Jose, Jan 16: Blaming restructuring charges, Apple Computer reported a first quarter loss despite a 7 percent gain in sales. The results were in line with Wall Street's expectations. For the three months ended Dec. 28, the Cupertino-based PC maker lost $8 million, or 2 cents per share, on revenue of $1.47 billion. In the year-ago period, Apple reported net income of $38 million, or 11 cents a share, on $1.38 billion in sales.
Excluding a $17 million after-tax restructuring charge and a $2 million after-tax accounting transition adjustment, the company would have earned $11 million, or 3 cents per share.
Analysts surveyed by Thomson First Call had projected earnings of 3 cents a share on revenue of $1.5 billion.
Apple shipped 743,000 Macintosh computers during the quarter, about the same as it shipped in the same period one year ago.
Bureau Report