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Apple pockets more profits

But results flawed by stock option cafuffle
By Nick Farrell
Thu Oct 19 2006, 08:07
IPODS BOOSTED Apple results with a 27 per cent increase in profits plus sales of its Intel based computers also increased.

According to ABC News, analysts are warning that any profits may be eaten up as Apple will have to re-adjust its figures to pay back all the money that was lost in dodgy share deals to its top executives.

Earlier this month, Apple supremeo Steve Jobs has said sorry to shareholders and employees after an internal probe uncovered irregularities in past stock option grants and raised "serious concerns" about two former officers.

It means that Apple will have to go back and make a 'significant adjustment' to its earnings.

However the fact that Apple earned $4.84 billion, a 32 per cent jump from $3.68 billion in the same period last year must be a cause for celebration for Jobs' Mob. Analysts thought the outfit would only make $4.66 billion. µ

L'INQ
ABC News

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