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APPLE COMPUTER REPORTS INCREASED REVENUES AND EARNINGS

 APPLE COMPUTER REPORTS INCREASED REVENUES AND EARNINGS
 CUPERTINO, Calif., April 15 /PRNewswire/ -- Apple Computer Inc. (NASDAQ: AAPL) reported today revenues and net income for its second fiscal quarter, which ended March 27, 1992.
 Revenues for the second quarter of fiscal 1992 were $1.716 billion, a 7.4 percent increase from the $1.598 billion reported in the second quarter of the prior year. Net income for the second quarter of fiscal 1992 was $135.1 million as compared to $131.1 million reported in the second quarter of the prior year.
 "Apple has continued to grow revenues and profits," said John Sculley, chairman and chief executive officer. "We continue to make steady progress on all parts of our business strategy. Despite the challenges of a difficult industry and economic environment, we are growing our core business while putting in place the partnerships and technology directions to support future opportunities."
 Earnings in the second quarter of fiscal 1992 were $1.09 per share, an increase of 2 percent from the $1.07 per share earned in the second quarter of fiscal 1991. Gross margin was 44 percent of sales in the second quarter of fiscal 1992 compared to 48.8 percent of sales in the prior year period.
 In the second quarter of fiscal 1992 international sales were 51 percent of net sales as compared to 52 percent of net sales one year ago.
 "The success of our PowerBook computers combined with strength in the mid-range of our product line allowed us to grow revenues and earnings during the quarter," continued Sculley. "Demand for our notebook products has resulted in over 200,000 PowerBooks shipped in the first two quarters since introduction.
 "During the quarter, we introduced a new version of our best- selling product, the Macintosh LC II, making a proven winner even better as we enter the education market buying season. We also announced a strategy to take our imaging business cross platform with the introduction of the Apple OneScanner for Windows and the Personal LaserWriter NTR.
 "As part of our efforts to better meet the needs of customers, we reorganized our sales and marketing organization to align with key markets. We recently announced the opening of the first new consumer channels for Apple products in the U.S. with Sears Office Center, to further expand distribution. This is just the beginning of our strategy to bring the Apple brand into fast-growing parts of the computer and electronics marketplace.
 "We have made considerable progress in executing our business strategy within a radically changed financial model. It has been three quarters since we undertook restructuring activities that were initiated to meet the challenge of dramatically changed industry fundamentals. We have since reported three consecutive quarters of lower operating expenses as a percentage of sales.
 "Partnerships are a key part of our strategy to bring Apple's technology
into the hands of many more users. During the quarter,


Apple and IBM announced the management team for Taligent, the joint venture company aimed at developing a new genre of object-oriented software, and Taligent commenced operation. Apple also announced a joint license and development agreement with Sharp. Sharp is the first licensee of a new Apple software technology that will be used in a new class of personal information devices.
 "While there are many challenges ahead, this quarter gives an indication of the kind of company that we are building at Apple. We are focused on maintaining a strong core business, while putting in place the partnerships, organization and strategies needed to take advantage of longer-term trends and exciting new technologies."
 APPLE COMPUTER INC.
 Consolidated Statements of Income (Unaudited)
 (In thousands, except per
 share amounts)
 Three Months Ended Six Months Ended
 March 27, March 29, March 27, March 29,
 1992 1991 1992 1991
 Net sales $ 1,716,025 $ 1,597,678 $ 3,578,637 $ 3,273,184
 Costs and
 expenses:
 Cost of sales 960,496 818,607 2,009,827 1,633,469
 Research and
 development 135,915 146,450 266,980 286,515
 Selling, general
 and
 administrative 409,209 446,076 828,771 938,263
 Total costs and
 expenses 1,505,620 1,411,133 3,105,578 2,858,247
 Operating income 210,405 186,545 473,059 414,937
 Interest and other
 income, net 7,464 24,985 12,581 39,349
 Income before
 income taxes 217,869 211,530 485,640 454,286
 Provision for
 income taxes 82,791 80,381 184,544 172,628
 Net income $ 135,078 $ 131,149 $ 301,096 $ 281,658
 Earnings per
 common and
 common
 equivalent share $ 1.09 $ 1.07 $ 2.45 $ 2.35
 Cash dividends
 paid per common
 share $ .12 $ .12 $ .24 $ .24
 Common and common
 equivalent
 shares used in
 the calculations
 of earnings per
 share 124,042 122,135 123,087 120,030
 APPLE COMPUTER INC.
 Consolidated Balance Sheets (Unaudited)
 (In thousands) March 27, March 29,
 1992 1991
 Assets
 Current assets:
 Cash and short-term
 investments $ 1,335,855 $ 1,041,294
 Accounts receivable 873,319 790,932
 Inventories 542,538 620,942
 Prepaid income taxes 244,251 154,193
 Other current assets 260,980 205,499
 Total current assets 3,256,943 2,812,860
 Net property, plant, and
 equipment 457,908 435,900
 Other assets 226,023 173,416
 Total assets $ 3,940,874 $ 3,422,176
 Liabilities and Shareholders' Equity
 Current liabilities $ 1,250,929 $ 996,167
 Deferred income taxes 602,995 611,631
 Shareholders' equity 2,086,950 1,814,378
 Total Liabilities and
 Shareholders' Equity $ 3,940,874 $ 3,422,176
 -0- 4/15/92
 NOTE: Apple, the Apple logo, Macintosh and LaserWriter are registered trademarks of Apple Computer Inc. PowerBook and OneScanner are trademarks of Apple Computer Inc.
 /CONTACT: Mary Ann Cusenza (Investor Relations), 408-974-4178; or Cynthia McCaffrey (Public Relations), 408-974-1578, both of Apple Computer Inc./
 (AAPL) CO: Apple Computer Inc. ST: California IN: CPR SU: ERN


RM -- SJ002 -- 8915 04/15/92 16:36 EDT
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Date:Apr 15, 1992
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