NEW YORK -- Apple Inc. on Wednesday posted a record fiscal second-quarter profit that exceeded Wall Street estimates as the board defended CEO Steve Jobs after comments by the firm's former CFO that the boss might have played a bigger role than thought in a recent scandal over the back dating of stock options.
Before the earnings report, Apple shares closed up 2.3% at $95.35, and they rose to above $100 in after-hours trading, a 52-week high.
Former CFO Fred Anderson agreed Tuesday to a U.S. Securities and Exchange Commission settlement in the case and later said through his lawyer that he had warned Jobs of the accounting implications of back dating (HR 4/25).
"We are not going to enter into a public debate with Fred Anderson or his lawyer," Apple board members Bill Campbell, Millard Drexler, Al Gore, Arthur Levinson, Eric Schmidt and Jerry York said Wednesday. "Steve Jobs cooperated fully with Apple's independent investigation and with the government's investigation of stock-option grants at Apple.
Before the earnings report, Apple shares closed up 2.3% at $95.35, and they rose to above $100 in after-hours trading, a 52-week high.
Former CFO Fred Anderson agreed Tuesday to a U.S. Securities and Exchange Commission settlement in the case and later said through his lawyer that he had warned Jobs of the accounting implications of back dating (HR 4/25).
"We are not going to enter into a public debate with Fred Anderson or his lawyer," Apple board members Bill Campbell, Millard Drexler, Al Gore, Arthur Levinson, Eric Schmidt and Jerry York said Wednesday. "Steve Jobs cooperated fully with Apple's independent investigation and with the government's investigation of stock-option grants at Apple.
- 4/26/2007
- The Hollywood Reporter - Movie News
CUPERTINO, Calif. -- Apple Computer Inc. said Tuesday that Google Inc. CEO Eric Schmidt is joining its board, adding another well-known name to the list of high-profile directors who oversee the management of the company behind the iPod portable player and Macintosh computer. Schmidt has become a multibillionaire and emerged as one of high technology's best-known leaders since Google named him chief executive in 2002. He becomes the eighth member of Apple's board, which already consists of several prominent members. Apple's other board members include the Cupertino-based company's renowned CEO, Steve Jobs, former Vice President Al Gore, Genentech Inc. CEO Arthur Levinson and Intuit Inc. Chairman William Campbell. "Eric is obviously doing a terrific job as CEO of Google, and we look forward to his contributions as a member of Apple's board of directors," Jobs said. "Like Apple, Google is very focused on innovation and we think Eric's insights and experience will be very valuable in helping to guide Apple in the years ahead."...
- 8/29/2006
- The Hollywood Reporter - Movie News
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