Apply says “Incredible demand” for its new flat screen iMacs has led to it posting better than expects Q2 earnings. For the second quarter ended March 30, 2002.Apple posted a net profit of $40 million, compared to $43 million in the year ago quarter. Revenues were $1.5 billion, up 4%, while gross margins were 27.4%, compared to 26.9% in the year ago quarter. International sales accounted for 45% of the quarter’s revenues.
Apple shipped 813 thousand Macintosh units during the quarter, up 8% from the year ago quarter.
We’ve experienced incredible demand for the new flat screen iMac and shipped 220,000 this quarter. Feedback from customers using them has been off the chartswe’ve clearly got a winner here, said Steve Jobs, Apple’s CEO. Looking forward, we’re making great progress on our transition to Mac OS X, we have some remarkable new products in development, and we plan to open an additional 20 Apple retail stores by the end of this calendar year.
We’re pleased to have delivered solid results while executing a challenging product transition, said Fred Anderson, Apple’s CFO. Our balance sheet remains very strong with $4.3 billion in cash. We are targeting June quarter revenues to be up sequentially to about $1.6 billion and EPS to be flat to up slightly compared with the March quarter.