ROANOKE TIMES 
                      Copyright (c) 1997, Roanoke Times

DATE: Thursday, January 16, 1997             TAG: 9701160038
SECTION: BUSINESS                 PAGE: B-5  EDITION: METRO 
DATELINE: SAN JOSE, CALIF.

APPLE LOSES $120 MILLION IN KEY QUARTER

Apple Computer Inc. made the bad news official Wednesday, reporting a loss of $120 million in the key October-December quarter as weak consumer demand depressed sales and forced price cuts.

Apple, which warned of the red ink earlier this month, said its loss for its fiscal first quarter amounted to 96 cents a share, deeper than analysts expected. The company lost $69 million, or 56 cents a share, in the same period last year.

Revenue fell 32 percent to $2.1billion from $3.1billion.

Apple, the nation's third-largest computer maker, repeated that it would undergo further restructuring. It did not release details, but said job cuts could be a possibility.

While disappointed by the results, Apple chairman Gil Amelio was optimistic that his long-term plan to put the shine back on Apple is on track.

Apple reported earnings after financial markets closed. It had closed down 62 1/2 cents at $17.25 a share on the Nasdaq stock market.

-Associated Press

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