Apple Computer Inc says it shipped 400,000 PowerPC-based systems and upgrades in its fiscal second quarter, and overall unit shipments rose more than 20% in the quarter from the year ago period, making the third consecutive quarter in which it has shipped more than 1m units. The figures were however dented by currency hedging: as a result of the decline in the value of the dollar, the value of the company’s net foreign currency forward and option contracts declined significantly, and the overall cost of hedging increased. Operating expenses for the second quarter were 19.9% of net sales, down from 22.4% a year ago. Gross margins improved to 26.2% of net sales in the second quarter from 24% in the same period a year ago. Chief financial officer Joseph Graziano warns that gross margins for calendar 1995 will be flat or below the second-quarter level as a result of continued pricing pressures. He also said that the Copland release of Mac OS is on track for a mid-1996 delivery. He expects total unit shipments will grow by more than 20% year-over-year in calendar 1995, against a relatively flat December 1994 quarter performance.
