In its filing with the Securities and Exchange Commission, Apple Computer said it expects to post operating losses for the rest of this year, according to the San Francisco Chronicle.
The computer maker also said it expects net sales to stay below prior year levels through the first quarter of 1997.
The filing is the latest in a long string of depressing financial news for Apple, which last month announced that it expects to report a staggering $700 million loss for its second quarter ending March 29. That figure followed a $69 million shortfall it declared last quarter.
As part of its emergency effort to stem the hemorrhage, Apple has announced plans to lay off 2,800 employees over the next year. The company also plans to outsource more functions, such as manufacturing.