Apple sales, profits, shipments and iMac sales down

Apple has just announced its latest quarterly results which, as expected, show profits plunging by 65% to $14 million on revenues that declined by 1% to $1.475 billion, compared with $1.495 billion in the same quarter last year. Apple shipped 711,000 Macs in the quarter, and sales of the slow-selling iMac and eMac computers fell by almost a third. Apple says it sold 256,000 iMacs and eMacs in the quarter, compared with 372,000 in the same quarter last year. However, Apple increased its gross margins to 28.3%, against 27.4% last year, and increased its cash pile to $4.5 billion.