Apple Posts Profit

Apple said the profit, which equalled 20 cents a share, compared with profit in the year ago quarter of $60.1 million or 48 cents a share.

Revenues for the three months ended in September fell to $2.32 billion from $3 billion a year ago.

The period was Apples first profitable quarter this year. For the full year, Apple posted a loss of $816 million, or $6.59 a share, compared with a profit of $424 million, or $3.45 a share in fiscal 1995.

Wall Street welcomed the news, bidding the companys stock price up $2.25 to $28 a share in after-hours trading.

Apple said during the period it shipped 932,000 units, 26 per cent below the fourth quarter of 1995.