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Apple has scheduled a live broadcast of its Special Event tomorrow morning.

What: Live satellite broadcast of the presentation by Steve Jobs,
Apple’s CEO

When: Thursday, October 16, 2003, beginning at 10:00 a.m. (PDT) from San Francisco’s Moscone West

The presentation will be available via satellite at the following
coordinates:

Ku-band Analog
-- Satellite: Galaxy 11
-- Transponder: 16K
-- Orbital Slot: 91 degrees West
-- Downlink Frequency: 12020 MHz
-- Polarity: Vertical down
-- Audio subcarriers: 6.2 and 6.8

C-band Analog
-- Satellite: Telstar 5
-- Transponder: 15C
-- Orbital Slot: 97 degrees West
-- Downlink Frequency: 4000 MHz
-- Polarity: Vertical down
-- Audio subcarriers: 6.2 and 6.8

This transmission is the property of Apple and protected by U.S. copyright law and international treaties. Any encoding, rebroadcast, retransmission, reproduction or distribution of any part of the material from the transmission is strictly prohibited without prior written approval from Apple. Please contact Apple Public Relations with any questions.

Apple Reports Fourth Quarter Results

Apple also today announced financial results for its fiscal 2003 fourth quarter ended September 27, 2003. For the quarter, the Company posted a net profit of $44 million, or $.12 per diluted share. These results compare to a net loss of $45 million, or $.13 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.715 billion, up 19 percent from the year-ago quarter, and gross margins were 26.6 percent, up from 26.4 percent in the year-ago quarter. International sales accounted for 38 percent of the quarter’s revenues.

The quarter’s results include an after-tax investment gain of $6 million, a favorable accounting transition adjustment of $3 million related to Apple’s stock repurchase agreement, and a gain on settlement of the stock repurchase agreement of $6 million. Without these items, net income would have been $29 million, or $.08 per share. Management believes that presentation of results excluding these items provides meaningful supplemental information regarding the Company’s operational performance.

Apple shipped 787 thousand Macintosh units during the quarter, up 7 percent from the year-ago quarter, as well as 336 thousand iPod units, up 140 percent from the year-ago quarter.

“It was a great new product quarter for Apple,” said Steve Jobs, Apple’s CEO. “We launched the Power Mac G5, the fastest personal computer in the world, new PowerBooks and new iPods. Plus, we’re delivering Panther, the next major release of Mac OS X, later this month and we’ll have some exciting news regarding our music efforts tomorrow.”

“We are very pleased to have exceeded our revenue and profit targets for the fourth quarter,” said Fred Anderson, Apple’s CFO. “Our balance sheet remains strong and our working capital management is among the best in the industry. Looking ahead to the first quarter of fiscal 2004, we expect a sequential increase in revenues to about $1.9 billion and a slight sequential increase in GAAP earnings relative to the September quarter.”

For the year, the Company reported net income of $69 million on revenues of $6.21 billion compared to net income of $65 million on revenues of $5.74 billion in 2002.

Apple will provide live streaming of its Q4 2003 financial results conference call utilizing QuickTime(TM), Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast of Apple’s Q4 2003 financial results conference call on Wednesday, October 15, 2003 at http://www.apple.com/quicktime/qtv/earningsq403/ is available for replay. The QuickTime player is available free for Macintosh and Windows users at http://www.apple.com/quicktime.

For more information, visit:
http://www.apple.com/

Charles W. Moore

Cool Mac Gear