Apple posts better fourth quarter results

Apple (Nasdaq:AAPL) reported fourth quarter results that were ahead of the previous quarter, as the innovative computer manufacturer has attempted to tackle the problem of consumer spending.

Apple reported Q4 earnings of $65m, or 18 cents a share ($108m, or 30 cents a share in Q4, 2000).

Sales for the period ended September, 2001 were $1.45bn, down from $1.87bn Q4, 2000.

Apple has been one of the few computer manufacturers not to issue a profit warning and it exceeded analysts' expectations of a profit of 16 cents a share for the fourth quarter, 2001.

For FY 2001 Apple made a net loss of $25m (profit of $786m in FY 2000).

The major contributor to Apple's performance has been the sales of iBook, which increased by 180% over the year, whereas unit sales of other Apple product lines fell by over 24%.