Apple reports profit of $14 million

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Apple Computer Inc. on Wednesday reported a profit of $14 million, or $0.04 per share, for the company's fiscal second quarter ending March 29, 2003. Analysts polled by Thompson/First Call expected earnings of $0.01 to $0.04 per share, with the consensus forecast of $0.02 per share.

These results compare to a net profit of $40 million, or $.11 per diluted share, in the year-ago quarter. Revenues for the quarter were $1.475 billion, down 1 percent from the year-ago quarter and gross margins were 28.3 percent, up from 27.4 percent in the year-ago quarter.

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