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APPLE COMPUTER INC. REPORTS SECOND QUARTER REVENUES AND EARNINGS

 CUPERTINO, Calif., April 15 /PRNewswire/ -- Apple Computer Inc. (NASDAQ-NMS: AAPL) today reported revenues and earnings for its second fiscal quarter which ended March 26, 1993.
 Net revenues for the second quarter of fiscal 1993 were $1.974 billion, a 15-percent increase from the $1.716 billion reported in the second quarter of the prior year. Net income for the second quarter was $110.9 million, as compared to the prior year's second quarter net income of $135.1 million.
 "Demand for Apple systems remains strong, our revenue growth accelerated during the quarter, and we are growing market share," said John Sculley, chairman and chief executive officer. "Total Macintosh unit growth was up over 38 percent, and over 50 percent in the U.S. in the second quarter of fiscal 1993, compared to the same quarter in fiscal 1992. PowerBook unit growth was up over 70 percent for this same period and up over 100 percent in the U.S. despite supply constraints."
 Earnings in the second quarter of fiscal 1993 were 92 cents per share as compared to $1.09 per share earned in the second quarter of fiscal 1992. Gross margin was 38.5 percent of net sales in the second quarter of fiscal 1993 compared to 44 percent of net sales in the prior-year period.
 "We continue to see growth across all categories of our desktop business," continued Sculley. "The entry level of Apple's product line, enhanced during the quarter with the introduction of the Color Classic, continues to generate strong demand as we enter our seasonally strong education buying period. The Macintosh LC line in particular leads as one of the most popular personal computers in the world.
 "In January, we introduced a broad range of new imaging products targeting customers who need affordable color imaging solutions. We completely updated the mid-range of the Macintosh line during the quarter with the introduction of our new Macintosh Centris computers. The award-winning PowerBook line was expanded to include color capabilities with the Apple Macintosh PowerBook 165c. In our new business area, the first server products from Apple's Enterprise Systems Division have been very well-received.
 "During this second quarter of fiscal 1993, we continued to be supply-constrained due to new product transitions and short supplies of strategic components. As expected, these issues have eased as we approached our quarter-end.
 "Our gross margin percentage declined in the second quarter due to new product introductions and pricing actions aimed at aggressively positioning Apple for faster unit growth. We have now invested in larger inventory balances to satisfy the increased demand. While we have been constrained on product availability in the first half of fiscal 1993, we believe that we are well-positioned for revenue and unit growth in the second half.
 "Apple's domestic net revenues grew over 23 percent in the second quarter as compared to the same period last year. Our net international revenues are growing. Although Europe continues to be impacted by the overall economic slowdown in that region, Apple Pacific growth continues to be led by our success in Japan where Apple is now the second-largest personal computer company.
 "We look forward to getting beyond major product constraint issues that have impacted our performance in the first half of fiscal 1993. During the second half of the fiscal year, we will focus on continuing the strength in our core personal computer business, on growing both market share and earnings, while building our new businesses in Enterprise Systems and Personal Interactive Electronics."
 NOTE: Apple, the Apple logo and Macintosh are registered trademarks and Centris and PowerBook are trademarks of Apple Computer Inc. Classic is a registered trademark licensed to Apple Computer Inc.
 APPLE COMPUTER INC.
 CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited, in thousands, except per-share amounts)
 Three Months Ended Six Months Ended
 March 26, March 27, March 26, March 27,
 1993 1992 1993 1992
 Net sales $ 1,973,894 $ 1,716,025 $ 3,974,186 $ 3,578,637
 Costs and expenses:
 Cost of sales 1,213,131 960,496 2,402,498 2,009,827
 Research and
 development 166,007 135,915 326,289 266,980
 Selling, general and
 administrative 425,690 409,209 835,548 828,771
 Total 1,804,828 1,505,620 3,564,335 3,105,578
 Operating income 169,066 210,405 409,851 473,059
 Interest and other
 income, net 9,803 7,464 29,245 12,581
 Income before income
 taxes 178,869 217,869 439,096 485,640
 Provision for income
 taxes 67,969 82,791 166,855 184,544
 Net income $ 110,900 $ 135,078 $ 272,241 $ 301,096
 Earnings per common
 and common equivalent
 share $ 0.92 $ 1.09 $ 2.25 $ 2.45
 Cash dividends paid per
 common share $ 0.12 $ 0.12 $ 0.24 $ 0.24
 Common and common equivalent
 shares used in the
 calculations of earnings
 per share 120,904 124,042 121,030 123,087
 APPLE COMPUTER INC.
 CONSOLIDATED BALANCE SHEETS
 (Unaudited, in thousands)
 March 26, March 27,
 1993 1992
 Assets
 Current assets:
 Cash and short-term
 investments $ 1,079,377 $ 1,335,855
 Accounts receivable 1,285,743 873,319
 Inventories 876,756 542,538
 Prepaid income taxes 200,387 244,251
 Other current assets 212,374 260,980
 Total current assets 3,654,637 3,256,943
 Net property, plant,
 and equipment 650,313 457,908
 Other assets 165,138 226,023
 Total $ 4,470,088 $ 3,940,874
 Liabilities and Shareholders' Equity
 Current liabilities:
 Notes payable $ 59,921 $ 136,262
 Accounts payable 613,711 341,011
 Accrued compensation
 and benefits 149,154 127,741
 Accrued marketing
 and distribution 181,532 173,435
 Accrued restructuring costs 73,010 117,724
 Other current liabilities 392,175 354,756
 Total current liabilities 1,469,503 1,250,929
 Deferred income taxes 714,375 602,995
 Shareholders' equity:
 Common stock 222,681 351,256
 Retained earnings 2,077,322 1,739,763
 Other (13,793) (4,069)
 Total shareholders' equity 2,286,210 2,086,950
 Total $4,470,088 $3,940,874
 -0- 4/15/93
 /CONTACT: Bill Slakey, investor relations, 408-974-3488, or Kate Paisley, public relations, 408-974-5453, both of Apple Computer/
 (AAPL)


CO: Apple Computer Inc. ST: California IN: CPR SU: ERN

GT -- SJ008 -- 6450 04/15/93 16:36 EDT
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Date:Apr 15, 1993
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