Apple chief Gil Amelio has pushed back his profit predictions after a disastrous first quarter. He now expects the company to be back in sustainable profit by June, rather than March as originally planned.
Last week he warned that Apple will make an operating loss of $100-150 million in its first quarter - "worse than we expected", according to chief financial officer Fred Anderson. The company is likely to remain in the red in the second quarter but should bounce back in the third, ending in June. This will be achieved through deep spending cuts in the second quarter, not just in jobs but in areas such as manufacturing efficiencies.
Last fiscal, Apple pleased Wall Street by returning to profit in the fourth, September quarter, three months earlier than Amelio had predicted.
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