Apple posts $45m loss

NEWS Apple has reported a fourth-quarter net loss after writing down the value of a number of investments and taking a $4m restructuring charge. With the investment write-down, restructuring and other items, Apple posted a net loss of $45m, or 13 cents per share, on revenue of $1.44bn. That compares with a net profit of $66m, or 19 cents per share, on revenue of $1.45bn for the same quarter last year. Excluding items, Apple met expectations with a profit of $7m, or two cents per share. Analysts were expecting the company to post earnings of two cents per share, according to First Call. Revenue was expected to be about $1.435bn. Apple said it shipped 734,000 Macs during the quarter, down 14 per cent from the year-ago quarter. In July, Apple CFO Fred Anderson said the company expected revenue roughly flat with the prior quarter's $1.43bn, and a "slight profit" amid anticipated lower profit margins. Apple predicted only a modest improvement for the current quarter, which includes the holiday buying season. Apple CEO Steve Jobs said in a statement: "Looking forward, we do not expect our industry to pick up anytime soon, though we're hoping to help put a lot of iPods, iMacs and iBooks under trees this holiday season." Ian Fried writes for News.com