Apple reports Q4 profit of $66 million

October 18, 2001

Apple today announced a net profit of US$66 million — not bad in an industry that’s been marked by significant downturns since the beginning of the year. The company’s numbers compare to a net profit of $170 million for the same quarter last year. Total revenues for the quarter were $1.45 billion, off 22 percent year over year, but gross margins rose significantly