-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PW67r6c1vYimIcCSDRv9XT77VF/UiAghqtWoTlYvgzCQRbw2QB35oOIqmmHAOm0r dxOmziEGbIfIK4gsAWg+Mg== 0001047469-03-013617.txt : 20030416 0001047469-03-013617.hdr.sgml : 20030416 20030416162156 ACCESSION NUMBER: 0001047469-03-013617 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030416 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: APPLE COMPUTER INC CENTRAL INDEX KEY: 0000320193 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 942404110 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10030 FILM NUMBER: 03652784 BUSINESS ADDRESS: STREET 1: 1 INFINITE LOOP CITY: CUPERTINO STATE: CA ZIP: 95014 BUSINESS PHONE: 4089961010 MAIL ADDRESS: STREET 1: ONE INFINITE LOOP CITY: CUPERTINO STATE: CA ZIP: 95014 8-K 1 a2108651z8-k.htm 8-K
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UNITED STATES
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

    April 16, 2003
Date of Report (date of earliest event reported)
   

 

 

APPLE COMPUTER, INC.
(Exact name of Registrant as specified in its charter)

 

 

California
(State or other jurisdiction of
incorporation or organization)

 

0-10030
(Commission File Number)

 

94-2404110
(I.R.S. Employer
Identification Number)

 

 

1 Infinite Loop, Cupertino, CA 95014
(Address of principal executive offices)

 

 

 

 

(408) 996-1010
(Registrant's telephone number, including area code)

 

 

 

 

Not Applicable
(Former name or former address, if changed since last report)

 

 




Item 7. Financial Statements and Exhibits

    (c)
    Exhibits

            The following exhibits are filed herewith:

Exhibit
Number

  Description

99.1   Text of press release issued by Apple Computer, Inc. dated April 16, 2003.

99.2

 

Data sheet issued by Apple Computer, Inc. dated April 16, 2003.


Item 9. Information Being Furnished Under Item 12

In accordance with Securities and Exchange Commission Release No. 33-8216, the following information, which is intended to be furnished under Item 12, "Results of Operations and Financial Condition," is instead being furnished under Item 9, "Regulation FD Disclosure." This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On April 16, 2003, Apple Computer, Inc. ("Apple") issued a press release regarding Apple's financial results for its second fiscal quarter ended March 29, 2003 and a related data sheet. A copy of Apple's press release is attached hereto as Exhibit 99.1 and a copy of the related data sheet is attached hereto as Exhibit 99.2.




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 hereunto duly authorized.

        APPLE COMPUTER, INC.

Date: April 16, 2003

 

By:

 

/s/  
FRED D. ANDERSON      
Fred D. Anderson
Executive Vice President and
Chief Financial Officer


EXHIBIT INDEX

Exhibit
Number

  Description

99.1   Text of press release issued by Apple Computer, Inc. dated April 16, 2003.

99.2

 

Data sheet issued by Apple Computer, Inc. dated April 16, 2003.



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SIGNATURE
EXHIBIT INDEX
EX-99.1 3 a2108651zex-99_1.htm EXHIBIT 99.1
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[Exhibit 99.1]

Apple Reports Second Quarter Results

CUPERTINO, California—April 16, 2003—Apple® today announced financial results for its fiscal 2003 second quarter ended March 29, 2003. For the quarter, the Company posted a net profit of $14 million, or $.04 per diluted share. These results compare to a net profit of $40 million, or $.11 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.475 billion, down 1% from the year-ago quarter, and gross margins were 28.3 percent, up from 27.4 percent in the year-ago quarter. International sales accounted for 47 percent of the quarter's revenues.

Apple shipped 711 thousand Macintosh® units during the quarter.

"Our 'year of the notebook' is off to a great start, led by the incredible demand for our new aluminum 12-inch and 17-inch PowerBook G4s," said Steve Jobs, Apple's CEO. "This quarter over 40% of the Macs we shipped were notebooks—our highest percentage ever and well ahead of the industry average."

"We are very pleased to have achieved our revenue target for the second quarter while maintaining channel inventories under 4.5 weeks," said Fred Anderson, Apple's CFO. "Continued strong asset management enabled us to increase cash to over $4.5 billion. Looking ahead to the third quarter of 2003, we expect revenue to be relatively flat with the March quarter and expect a slight profit for the quarter."

Apple 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 committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings.

Apple will provide live streaming of its Q2 2003 financial results conference call utilizing QuickTime™, Apple's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PT on Wednesday, April 16, 2003 at http://www.apple.com/quicktime/qtv/earningsq203/ and will also be available for replay. The QuickTime player is available free for Macintosh and Windows users at www.apple.com/quicktime.

This press release contains forward-looking statements about future revenues, profit, and products. These statements involve risks and uncertainties and actual results may differ. Potential risks and uncertainties include continued competitive pressures in the marketplace; the effect competitive and economic factors and the Company's reaction to them may have on consumer and business buying decisions with respect to the Company's products; the ability of the Company to make timely delivery of new programs, products and successful technological innovations to the marketplace; the continued availability of certain components and services essential to the Company's business currently obtained by the Company from sole or limited sources; possible disruption in commercial activities caused by terrorist activity and armed conflict, such as changes in logistics and security arrangements, and reduced end-user purchases relative to expectations; possible disruption in commercial activity as a result of Severe Acute Respiratory Syndrome (SARS); risks associated with the Company's retail initiative including significant investment cost, uncertain consumer acceptance and potential impact on existing reseller relationships; the effect that the Company's dependency on manufacturing and logistics services provided by third-parties may have on the quality or quantity of products manufactured; and the ability of the Company to successfully evolve its operating system and attract sufficient Macintosh developers. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year 2002 and the Company's Form 10-Q for the quarter ended March 29, 2003 to be filed with the SEC.


Press Contact:
Lynn Fox
(408) 974-6209
lfox@apple.com

Investor Relations Contacts:
Nancy Paxton
(408) 974-5420
paxton1@apple.com

Joan Hoover
(408) 974-4570
hoover1@apple.com

NOTE TO EDITORS: For additional information visit Apple's PR web site (www.apple.com/pr/) or call Apple's Media Helpline at (408) 974-2042.

© 2003 Apple Computer, Inc. All rights reserved. Apple, the Apple logo, Macintosh, Mac OS, and QuickTime are either registered trademarks or trademarks of Apple.



CONDENSED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)

 
  Three Months Ended
  Six Months Ended
 
  March 29, 2003
  March 30, 2002
  March 29, 2003
  March 30, 2002
Net sales   $ 1,475   $ 1,495   $ 2,947   $ 2,870
Cost of sales     1,057     1,086     2,123     2,039
   
 
 
 
  Gross margin     418     409     824     831
   
 
 
 
Operating expenses:                        
  Research and development     119     111     240     224
  Selling, general, and administrative     300     270     599     559
  Restructuring costs     3         26     24
   
 
 
 
    Total operating expenses     422     381     865     807
   
 
 
 
Operating income (loss)     (4 )   28     (41 )   24

Gains on non-current investments, net

 

 


 

 


 

 


 

 

23
Interest and other income, net     23     27     52     61
   
 
 
 
  Total interest and other income, net     23     27     52     84
   
 
 
 
Income before provision for income taxes     19     55     11     108
Provision for income taxes     5     15     3     30
   
 
 
 
Income before accounting change     14     40     8     78
Cumulative effect of accounting change, net of income taxes of $1             (2 )  
   
 
 
 
Net income   $ 14   $ 40   $ 6   $ 78
   
 
 
 
Earnings per common share before accounting change:                        
  Basic   $ 0.04   $ 0.11   $ 0.02   $ 0.22
  Diluted   $ 0.04   $ 0.11   $ 0.02   $ 0.22

Earnings per common share after accounting change:

 

 

 

 

 

 

 

 

 

 

 

 
  Basic   $ 0.04   $ 0.11   $ 0.02   $ 0.22
  Diluted   $ 0.04   $ 0.11   $ 0.02   $ 0.22

Shares used in computing earnings per share (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 
  Basic     360,490     353,480     359,774     352,405
  Diluted     362,243     365,969     361,591     361,622


CONSOLIDATED BALANCE SHEETS
(in millions, except share amounts)

 
  March 29, 2003
  September 28, 2002
 
ASSETS:  

Current assets:

 

 

 

 

 

 

 
  Cash and cash equivalents   $ 3,410   $ 2,252  
  Short-term investments     1,116     2,085  
  Accounts receivable, less allowances of $48 and $51, respectively     492     565  
  Inventories     41     45  
  Deferred tax assets     168     166  
  Other current assets     241     275  
   
 
 
    Total current assets     5,468     5,388  
Property, plant and equipment, net     619     621  
Acquired intangible assets     112     119  
Other assets     162     170  
   
 
 
    Total assets   $ 6,361   $ 6,298  
   
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY:  

Current liabilities:

 

 

 

 

 

 

 
  Accounts payable   $ 921   $ 911  
  Accrued expenses     776     747  
  Current debt     310      
   
 
 
    Total current liabilities     2,007     1,658  
Long-term debt         316  
Deferred tax liabilities and other non-current liabilities     215     229  
   
 
 
    Total liabilities     2,222     2,203  
   
 
 
Commitments and contingencies              

Shareholders' equity:

 

 

 

 

 

 

 
  Common stock, no par value; 900,000,000 shares authorized; 365,545,268 and 358,958,989 shares issued and outstanding, respectively     1,919     1,826  
  Deferred stock compensation     (75 )   (7 )
  Retained earnings     2,331     2,325  
  Accumulated other comprehensive income (loss)     (36 )   (49 )
   
 
 
    Total shareholders' equity     4,139     4,095  
   
 
 
    Total liabilities and shareholders' equity   $ 6,361   $ 6,298  
   
 
 



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CONDENSED STATEMENTS OF OPERATIONS (in millions, except share and per share amounts)
CONSOLIDATED BALANCE SHEETS (in millions, except share amounts)
EX-99.2 4 a2108651zex-99_2.htm EXHIBIT 99.2
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[Exhibit 99.2]

April 16, 2003


Apple Computer, Inc.
Q2'03 Summary Data

 
  Q1'03 Actual
  Q2'02 Actual
  Q2'03 Actual
  Sequential
Change

  Year/Year
Change

 
 
  k
Units

  $m
Rev

  k
Units

  $m
Rev

  k
Units

  $m
Rev

 
 
  Units
  Rev
  Units
  Rev
 
Product Summary                                                
  iMac (1)   298   $ 356   372   $ 448   256   $ 302   -14 % -15 % -31 % -33 %
  iBook   186     216   141     180   133     151   -28 % -30 % -6 % -16 %
  Power Mac G4   158     292   211     383   156     293   -1 % 0 % -26 % -23 %
  PowerBook   101     235   89     198   166     353   64 % 50 % 87 % 78 %
  Peripherals & Other HW       218       153       216     -1 %   41 %
  Software & Other       155       133       160     3 %   20 %
   
 
 
 
 
 
                 
Total Apple   743   $ 1,472   813   $ 1,495   711   $ 1,475   -4 % 0 % -13 % -1 %
   
 
 
 
 
 
                 



 
  Q1'03 Actual
  Q2'02 Actual
  Q2'03 Actual
  Sequential Change
  Year/Year Change
 
 
  k
Units

  $m
Rev

  k
Units

  $m
Rev

  k
Units

  $m
Rev

 
 
  Units
  Rev
  Units
  Rev
 
Operating Segments                                                
  Americas   377   $ 738   401   $ 737   338   $ 684   -10 % -7 % -16 % -7 %
  Europe   202     351   211     365   180     338   -11 % -4 % -15 % -7 %
  Japan   71     139   131     227   107     220   51 % 58 % -18 % -3 %
  Retail   46     148   24     70   42     135   -9 % -9 % 75 % 93 %
  Other Segments (2)   47     96   46     96   44     98   -6 % 2 % -4 % 2 %
   
 
 
 
 
 
                 
Total Operating Segments   743   $ 1,472   813   $ 1,495   711   $ 1,475   -4 % 0 % -13 % -1 %
   
 
 
 
 
 
                 

(1)
Includes eMac product line.

(2)
Other Segments include Asia Pacific and FileMaker. Certain amounts in Q2'02 and Q1'02 related to recent acquisitions and Internet Services have been reclassified from Other Segments to the Americas segment to conform to the Q2'03 presentation.



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Apple Computer, Inc. Q2'03 Summary Data
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