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P.M. BRIEFING : Apple Computer Income Falls 29%

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From Times wire services

Apple Computer Inc. today said its second-quarter net income decreased 29% compared to the same quarter last year, partly because of previously announced problems with high-cost computer memory chips.

Net income fell to $56.4 million from $79.7 million while earnings per share were 44 cents compared to 61 cents for the second quarter of 1988.

Net sales were $1.25 billion, a 44% increase over the net sales of $867 million a year ago.

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John Sculley, Apple’s chairman and chief executive, said the problem of an oversupply of chips bought at peak prices “is now substantially behind us.”

International sales accounted for 40% of total revenues during the second quarter. That figure was 38% last year.

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