Confirming its earlier estimates, Apple Computer said it lost $17.2 million in the third quarter, the first loss ever for the company.
Apple blamed the loss on a $40.3-million "one-time expense" caused by its recent decision to eliminate 1,200 jobs and close three of its six factories, moves made in response to a persistent industry sales slump.
Apple's revenue for the quarter underscored the industry's tailspin. For the three months ended June 28, revenue totaled $375 million, about 11% below a year ago. Profit for the same period last year was $18.3 million.
Although Apple President and Chief Executive John Sculley said the company's retrenchment has left it poised to prosper, analysts remain divided over the company's prospects of turning a profit before its fiscal year ends in September.