Steve Jobs and Apple's previous earnings warning

Just like the previous two days, I'm handcopying a piece of writing today.

This one is a letter from Steve Jobs. It's so tightly crafted that it's almost beautiful. (Source: Daring fireball.)

Apple today announced that it expects to generate revenues of about $1.4 billion to $1.45 billion in the June quarter, down from previous guidance of about $1.6 billion. The lower-than-expected revenues are primarily due to soft demand in the consumer and creative markets such as advertising and publishing. Geographically, revenue shortfall is expected to be offset significantly by higher-than-expected gross margins primarily due to lower costs of some components. Accordingly, the Company has revised its earnings guidance from $.08 to $.10 per diluted share, compared to previous guidance of $.11 or slightly higher.

"Like others in our industry, we are experiencing a slowdown in sales this quarter. As a result, we're going to miss our revenue projections by around 10%, resulting in slightly lower profits," said Steve Jobs, Apple's CEO. "We've got some amazing new products in development, so we're excited about the year ahead. As one of the few companies currently making a profit in the PC business, we remain very optimistic about Apple's prospects for long-term growth".

Here is John Gruber's commentary on the writing.

Look at the tight construction of that message from Apple in 2002. First paragraph: put out the numbers. Second paragraph: it’s an industry-wide problem, but Apple has “amazing new products” coming. And then the kicker, the dagger: “As one of the few companies currently making a profit in the PC business…”.

We’ve got some short term bad news but don’t worry, we have this.” And… out. Short and sweet. Rip off the bad news Band-Aid, express quiet confidence that Apple is in great shape, and that’s it. Message over.