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Apple Promises Faster Macs, OS X, CD-RWs
Jobs sees overall slowdown in 'PC' market

by David Nagel
Executive Producer
[email protected]

Apple CEO Steve Jobs told financial analysts today he expects to ship faster Macs in the coming months, as well as the full release of OS X in "early 2001," reiterating a message delivered to analysts months ago. He also said he expects Apple to start shipping machines with CD-RW drives, admitting "Apple completely missed the boat" on CD-RWs. He declined to add more details to plans for future products.

Apple held a conference call today to answer investor concerns over the company's announcement that it will show its first net loss since Steve Jobs returned to Apple three years ago. The company expects to report revenue of about $1 billion and a net loss, excluding investment gains, of between $225 million and $250 million when actual results are announced Jan. 17.

"The $600 million revenue shortfall from previous expectations is owing to lower than expected channel sellthrough across all geographies and unplanned sales promotions and pricing actions," Apple reported in a prepared statement. "The net loss is the result of the revenue shortfall and cancellation charges related to decreases in forecasted component purchases for current products."

"The swift industry-wide decline in PC sales will result in Apple's first non-profitable quarter in three years," said Apple's CEO Steve Jobs in a prepared statement. "We're not happy about it and plan to return to sustained profitability next quarter. We are committed to reducing our channel inventories to normal levels by the end of this quarter and remain very excited about the new products and programs Apple will be rolling out in 2001."

"In light of the lower results anticipated for the December quarter, we now expect revenues for fiscal 2001 to be in the $6 to $6.5 billion range," said Apple CFO Fred Anderson in a prepared statement.

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

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