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Apple set for new Mac OS
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May 11, 1998: 5:21 p.m. ET
Company also says its online store generated $16M in 2Q revenues
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NEW YORK (CNNfn) - Apple Computer Inc. Monday said it will ship the next version of its Mac OS operating system in the fall of 1999.
The company said the new operating system, dubbed Mac OS X (10), will combine technologies from the current Mac OS 8 and the forthcoming Rhapsody operating system, which is designed for publishing and Internet solutions.
Rhapsody is scheduled for release later this year.
Because Mac OS X will be based in part on the existing operating system, Apple says the new version will not require software developers to rewrite their applications from the ground up.
The company added that it will release Mac OS 8.5, an update of the current operating system, this fall.
Separately, Apple said it generated $16 million in revenue from its online store during the second quarter of 1998. The company reported in its 10-Q SEC filing Monday that "net sales continued to be positively impacted" through direct marketing of its products.
Apple also reiterated its belief that it does not anticipate significant sequential quarterly growth before the fourth quarter, adding that it does not expect year-over-year revenue growth until the first quarter of 1999.
Last month, the computer maker reported consecutive profitable quarters for the first time in two-and-a-half years.
Though Apple said it expects to sustain gross margins of about 23 percent for the rest of the fiscal year, the company pointed out that industry-wide pricing pressures will place "significant downward pressure" on gross margins.
Last Wednesday, Apple introduced a new computer, the iMac, priced at $1,299 to compete with low-cost Windows-based computers.
Shares of Apple (AAPL) finished up 1/2 at 30-15/16 at Monday's close. 
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Apple Computer
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