🚀 go-pugleaf

[The following is a press release from AppleLink that I thought might
 be of interest to my fellow tea leave-readers.--Joel]

Strong Sales and Earnings Gains
 
Cupertino, California.  October 14, 1987.  Apple Computer, Inc. reported strong
increases in net sales and earnings in fourth quarter and fiscal year results
for the periods ending September 25, 1987.
 
Net sales rose to $786.4 million during the fourth fiscal quarter, a 54
percent increase over the corresponding quarter in the prior year.  Fourth
quarter earnings climbed to $0.54 per share, a 116 percent increase compared to
$0.25 per share, (as adjusted for a two-for-one stock split effected on May 15,
1987), in the comparable period of the prior year.
 
For the full year, Apple's sales rose by 40 percent to $2.66 billion from
$1.90 billion in fiscal 1986.  Net earnings for fiscal year 1987 were $217
million, a 41 percent increase above the $154 million recorded in fiscal 1986.
Earnings per share were $1.65 per share compared to earnings of $1.20 per
share, (adjusted for the two-for-one stock split) in fiscal year 1986.
 
"Our new products are shipping in record numbers," declared John Sculley,
chairman and chief executive officer.  The Macintosh family of products
is shipping at its highest level ever."
 
"Our education sales remain strong", said Sculley.  "The AppleIIGS
has helped us maintain a leadership position in the kindergarten through grade
12 market by shipping in record volumes during this school year's first
education buying season.  The Macintosh family of products is selling very well
in the higher education market.
 
"We are very encouraged by the strength of demand for Apple products,"
added Sculley.  "We have taken this opportunity to increase sales and marketing
expenses in order to support further market expansion.  During the current
quarter we increased our field sales staff in the U. S. by  approximately 25
percent from the end of the previous quarter."
 
"Fiscal year 1987 has been a year of record achievement for Apple
Computer," noted Sculley.  "We successfully introduced many new products
throughout the year.  They have been well accepted, particularly in the
business market.   We have now completed the repositioning of Apple and enter
fiscal year 1988 with strong momentum and a full complement of new products."