Apple Computer’s Profit Rises 49% in Fourth Quarter

Apple Computer Inc.’s earnings rose 49% in the latest quarter, mainly because of a gain from selling its stock in Adobe Systems Inc., the company said Friday.

Operating income before the Adobe gain and taxes and interest rose by a narrower 2%.

Chairman John Sculley said the company was recovering from a squeeze on profit margins caused by high component costs. Apple was faulted for buying large quantities of computer chips at unusually high prices during a temporary shortage last year.

Apple’s fourth-quarter earnings, including an after-tax gain of $48 million from the Adobe sale, were $161.1 million, up from $107.9 million a year earlier. Revenue rose to $1.38 billion from $1.17 billion.