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Apple reports $45 million loss

Time: 10:37 EST/15:37 GMT | News Source: MacCentral | Posted By: Adrian Latinak

Apple today reported financial results for its fourth quarter ended September 28, 2002. For the quarter Apple posted a net loss of US$45 million or $0.13 per share. Apple had several non-recurring items that affected this quarters results including a write-down of certain equity investments totaling $49 million net of tax; a restructuring charge of $4 million net of tax; an in-process R&D charge of $1 million net of tax; and the reversal of a portion of a previous executive compensation expense resulting in a favorable impact of $2 million.

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