Computer maker Apple joined the technology chorus of woe last night by reporting that net profits for its third quarter dropped to $32m, down sharply from $61m in the same quarter last year.
The company said earnings per share were nine cents, down from 17 cents in the same quarter last year, but in line with analysts' expectations.
The company, which makes iMacs, said revenues slipped by 3% to $1.43 billion for the quarter.
'Even in this extended worldwide downturn, Apple is continuing to be profitable and continuing to innovate,' said Steve Jobs, Apple's CEO, in a statement.
The company said international sales accounted for 42% of the quarter's revenues.
