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Health Care : Biotechnology | Small Cap Value
Based in Singapore
Company profile

ASLAN Pharmaceuticals Limited is a clinical-stage oncology and immunology focused biopharmaceutical company. The Company’s portfolio is comprised of one monoclonal antibody therapy targeting inflammatory disease and two small molecule inhibitors targeting oncology. The Company’s products include ASLAN004, ASLAN003 and Varlitinib. ASLAN004 is a fully human monoclonal antibody that binds to the IL-13 receptor alpha1 subunit (IL-13Rα1), blocking signaling of two pro-inflammatory cytokines, IL-4 and IL-13, which are central to triggering symptoms of atopic dermatitis, such as redness and itching of the skin. ASLAN003 is an inhibitor of human dihydroorotate dehydrogenase (DHODH), in acute myeloid leukemia (AML) and are exploring development in other solid tumors. Varlitinib is an oral, reversible small-molecule pan-HER inhibitor.

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Closing Price
$1.64
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0.00 (0.00%)
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10-day average volume:
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Apple Reports Third Quarter Results

4:30 pm ET July 30, 2020 (BusinessWire) Print

Apple(R) today announced financial results for its fiscal 2020 third quarter ended June 27, 2020. The Company posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. International sales accounted for 60 percent of the quarter's revenue.

"Apple's record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments," said Tim Cook, Apple's CEO. "In uncertain times, this performance is a testament to the important role our products play in our customers' lives and to Apple's relentless innovation. This is a challenging moment for our communities, and, from Apple's new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neutral by 2030, we're living the principle that what we make and do should create opportunity and leave the world better than we found it."

"Our June quarter performance was strong evidence of Apple's ability to innovate and execute during challenging times," said Luca Maestri, Apple's CFO. "The record business results drove our active installed base of devices to an all-time high in all of our geographic segments and all major product categories. We grew EPS by 18 percent and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics."

Apple's Board of Directors has declared a cash dividend of $0.82 per share of the Company's common stock. The dividend is payable on August 13, 2020 to shareholders of record as of the close of business on August 10, 2020.

The Board of Directors has also approved a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.

Apple will provide live streaming of its Q3 2020 financial results conference call beginning at 2:00 p.m. PT on July 30, 2020 at apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company's expectations regarding the impact of the COVID-19 pandemic; anticipated revenue, gross margin, operating expenses, other income/(expense), and tax rate; plans for return of capital; the four-for-one stock split; and the commitment to be carbon neutral by 2030. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; the effect of global and regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the effect that shifts in the mix of products and services and in the geographic, currency, or channel mix, component cost increases, increases in the cost of acquiring and delivering content for the Company's services, price competition, or the introduction of new products or services, including new products or services with higher cost structures, could have on the Company's gross margin; the dependency of the Company on the performance of distributors of the Company's products, including cellular network carriers and other resellers; the risk of write-downs on the value of inventory and other assets and purchase commitment cancellation risk; the continued availability on acceptable terms, or at all, of certain components, services, and new technologies essential to the Company's business, including components and technologies that may only be available from single or limited sources; the dependency of the Company on manufacturing and logistics services provided by third parties, many of which are located outside of the US and which may affect the quality, quantity, or cost of products manufactured or services rendered to the Company; the effect of product and services design and manufacturing defects on the Company's financial performance and reputation; the dependency of the Company on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all; the dependency of the Company on support from third-party software developers to develop and maintain software applications and services for the Company's products; the impact of unfavorable legal proceedings, such as a potential finding that the Company has infringed on the intellectual property rights of others; the impact of complex and changing laws and regulations worldwide, which expose the Company to potential liabilities, increased costs, and other adverse effects on the Company's business; the ability of the Company to manage risks associated with the Company's retail stores; the ability of the Company to manage risks associated with the Company's investments in new business strategies and acquisitions; the impact on the Company's business and reputation from information technology system failures, network disruptions, or losses or unauthorized access to, or release of, confidential information; the ability of the Company to comply with laws and regulations regarding data protection; the continued service and availability of key executives and employees; political events, international trade disputes, war, terrorism, natural disasters, public health issues, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products; financial risks, including risks relating to currency fluctuations, credit risks, and fluctuations in the market value of the Company's investment portfolio; and changes in tax rates and exposure to additional tax liabilities. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms -- iOS, iPadOS, macOS, watchOS, and tvOS -- provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple's Media Helpline at (408) 974-2042.

(C) 2020 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

                                                                                                                        Apple Inc.
                                                                                                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
                                                                               (In millions, except number of shares which are reflected in thousands and per share amounts)
                                                                                                                                         
                                                              Three Months Ended                                                                             Nine Months Ended
                                             ------------------------------------------------------------------------------------                            --------------------------------------------------------------------------------------
                                       June 27,                             June 29,                              June 27,                              June 29,
                                                            2020                                                    2019                                                     2020                                                     2019
                                             --------------------------------                        --------------------------------                        ---------------------------------                        ---------------------------------
Net sales:                                                                                           
                                             $      46,529     $      42,354     $      170,598     $      162,354  
   Products
                                                    13,156            11,455             39,219             33,780  
   Services
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                    59,685            53,809            209,817            196,134  
      Total net sales (1)
Cost of sales:                                                                                       
                                                    32,693            29,473            116,089            109,758  
   Products
                                                     4,312             4,109             13,461             12,297  
   Services
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                    37,005            33,582            129,550            122,055  
      Total cost of sales
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                    22,680            20,227             80,267             74,079  
         Gross margin
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                                                  
Operating expenses:                                                                                  
                                                     4,758             4,257             13,774             12,107  
      Research and development
                                                     4,831             4,426             14,980             13,667  
      Selling, general and administrative
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                     9,589             8,683             28,754             25,774  
         Total operating expenses
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                                                  
Operating income                                    13,091            11,544             51,513             48,305  
Other income/(expense), net                             46               367                677              1,305  
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
Income before provision for income taxes            13,137            11,911             52,190             49,610  
Provision for income taxes                           1,884             1,867              7,452              8,040  
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
Net income                                   $      11,253     $      10,044     $       44,738     $       41,570  
                                             ====== ====== ====================                      ====== ====== ====================                      ====== ======= ====================                      ====== ======= ====================
                                                                                  
Earnings per share:                                                                                  
                                             $        2.61     $        2.20     $        10.25     $         8.92  
   Basic
                                             $        2.58     $        2.18     $        10.16     $         8.86  
   Diluted
Shares used in computing earnings per share:                                                         
                                                 4,312,573         4,570,633          4,362,571          4,660,175  
   Basic
                                                 4,354,788         4,601,380          4,404,695          4,691,759  
   Diluted
                                                                                  
(1) Net sales by reportable segment:                                                                 
                                             $      27,018     $      25,056     $       93,858     $       87,592  
   Americas
                                                    14,173            11,925             51,740             45,342  
   Europe
                                                     9,329             9,157             32,362             32,544  
   Greater China
                                                     4,966             4,082             16,395             16,524  
   Japan
                                                     4,199             3,589             15,462             14,132  
   Rest of Asia Pacific
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                             $      59,685     $      53,809     $      209,817     $      196,134  
         Total net sales
                                             ====== ====== ====================                      ====== ====== ====================                      ====== ======= ====================                      ====== ======= ====================
                                                                                  
(1) Net sales by category:                                                                           
                                             $      26,418     $      25,986     $      111,337     $      109,019  
   iPhone
                                                     7,079             5,820             19,590             18,749  
   Mac
                                                     6,582             5,023             16,927             16,624  
   iPad
                                                     6,450             5,525             22,744             17,962  
   Wearables, Home and Accessories
                                                    13,156            11,455             39,219             33,780  
   Services
                                             ------------  --------------------                      ------------  --------------------                      -------------  --------------------                      -------------  --------------------
                                                                                                                                   Apple Inc.
                                                                                                                CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
                                                                                              (In millions, except number of shares which are reflected in thousands and par value)
                                                                                                                                                                              
                                                                                                                                                                    June 27,                                   September 28,
                                                                                                                                                                                         2020                                                            2019
                                                                                                                                                                      ----------------------------------------                        ----------------------------------------
                                                                                                                                     ASSETS:
Current assets:                                                                                                                                                                                  
                                                                                                                                                                      $              33,383     $              48,844  
   Cash and cash equivalents
                                                                                                                                                                                     59,642                    51,713  
   Marketable securities
                                                                                                                                                                                     17,882                    22,926  
   Accounts receivable, net
                                                                                                                                                                                      3,978                     4,106  
   Inventories
                                                                                                                                                                                     14,193                    22,878  
   Vendor non-trade receivables
                                                                                                                                                                                     10,987                    12,352  
   Other current assets
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                    140,065                   162,819  
      Total current assets
                                                                                                                                                                              
Non-current assets:                                                                                                                                                                              
                                                                                                                                                                                    100,592                   105,341  
   Marketable securities
                                                                                                                                                                                     35,687                    37,378  
   Property, plant and equipment, net
                                                                                                                                                                                     41,000                    32,978  
   Other non-current assets
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                    177,279                   175,697  
      Total non-current assets
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                      $             317,344     $             338,516  
         Total assets
                                                                                                                                                                      ========== ========== ====================                      ========== ========== ====================
                                                                                                                                                                              
                                                                                                        LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:                                                                                                                                                                             
                                                                                                                                                                      $              35,325     $              46,236  
   Accounts payable
                                                                                                                                                                                     35,005                    37,720  
   Other current liabilities
                                                                                                                                                                                      6,313                     5,522  
   Deferred revenue
                                                                                                                                                                                     11,166                     5,980  
   Commercial paper and repurchase agreements
                                                                                                                                                                                      7,509                    10,260  
   Term debt
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                     95,318                   105,718  
      Total current liabilities
                                                                                                                                                                              
Non-current liabilities:                                                                                                                                                                         
                                                                                                                                                                                     94,048                    91,807  
   Term debt
                                                                                                                                                                                     55,696                    50,503  
   Other non-current liabilities
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                    149,744                   142,310  
      Total non-current liabilities
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                    245,062                   248,028  
         Total liabilities
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                              
Commitments and contingencies                                                                                                                                                                    
                                                                                                                                                                              
Shareholders' equity:                                                                                                                                                 
                                                                                                                                                                                     48,696                    45,174  
   Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,283,939 and 4,443,236 shares issued and outstanding, respectively
                                                                                                                                                                                     24,136                    45,898  
   Retained earnings
                                                                                                                                                                                      (550)                     (584)  
   Accumulated other comprehensive income/(loss)
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                                                                                                                     72,282                    90,488  
      Total shareholders' equity
                                                                                                                                                                      --------------------  --------------------                      --------------------  --------------------
                                                                                   Apple Inc.
                                                           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
                                                                                  (In millions)
                                                                
                                                                                                      Nine Months Ended
                                                                                  ----------------------------------------------------------------------------------------
                                                                             June 27,                               June 29,
                                                                                                  2020                                                      2019
                                                                                  ----------------------------------                        ----------------------------------
Cash, cash equivalents and restricted cash, beginning balances                    $        50,224     $        25,913  
                                                                                  ------- ------- --------------------                      ------- ------- --------------------
Operating activities:                                                                                  
                                                                                           44,738              41,570  
   Net income
                                                                                                       
   Adjustments to reconcile net income to cash generated by operating activities:
                                                                                            8,354               9,368  
      Depreciation and amortization
                                                                                            5,105               4,569  
      Share-based compensation expense
                                                                                              182                (38)  
      Deferred income tax expense/(benefit)
                                                                                             (94)               (340)  
      Other
                                                                                                       
   Changes in operating assets and liabilities:
                                                                                            5,149               9,013  
      Accounts receivable, net
                                                                                               10                 496  
      Inventories
                                                                                            8,685              13,483  
      Vendor non-trade receivables
                                                                                          (6,760)                 693  
      Other current and non-current assets
                                                                                         (10,787)            (19,804)  
      Accounts payable
                                                                                            1,649               (776)  
      Deferred revenue
                                                                                            3,867             (8,753)  
      Other current and non-current liabilities
                                                                                  --------------  --------------------                      --------------  --------------------
                                                                                           60,098              49,481  
         Cash generated by operating activities
                                                                                  --------------  --------------------                      --------------  --------------------
Investing activities:                                                                                  
                                                                                         (96,606)            (21,902)  
   Purchases of marketable securities
                                                                                           54,865              26,783  
   Proceeds from maturities of marketable securities
                                                                                           39,760              49,516  
   Proceeds from sales of marketable securities
                                                                                          (5,525)             (7,718)  
   Payments for acquisition of property, plant and equipment
                                                                                          (1,473)               (611)  
   Payments made in connection with business acquisitions, net
                                                                                            (210)               (632)  
   Purchases of non-marketable securities
                                                                                               58               1,526  
   Proceeds from non-marketable securities
                                                                                            (689)               (268)  
   Other
                                                                                  --------------  --------------------                      --------------  --------------------
                                                                                          (9,820)              46,694  
         Cash generated by/(used in) investing activities
                                                                                  --------------  --------------------                      --------------  --------------------
Financing activities:                                                                                  
                                                                                              430                 391  
   Proceeds from issuance of common stock
                                                                                          (3,234)             (2,626)  
   Payments for taxes related to net share settlement of equity awards
                                                                                         (10,570)            (10,640)  
   Payments for dividends and dividend equivalents
                                                                                         (55,171)            (49,453)  
   Repurchases of common stock
                                                                                           10,635      --  
   Proceeds from issuance of term debt, net
                                                                                         (12,629)             (5,500)  
   Repayments of term debt
                                                                                               31             (2,026)  
   Proceeds from/(Repayments of) commercial paper, net
                                                                                            5,165      --  
   Proceeds from repurchase agreements
                                                                                            (120)                (83)  
   Other
                                                                                  --------------  --------------------                      --------------  --------------------
                                                                                         (65,463)            (69,937)  
         Cash used in financing activities
                                                                                  --------------  --------------------                      --------------  --------------------
Increase/(Decrease) in cash, cash equivalents and restricted cash                        (15,185)              26,238  
                                                                                  --------------  --------------------                      --------------  --------------------
Cash, cash equivalents and restricted cash, ending balances                       $        35,039     $        52,151  
                                                                                  ======= ======= ====================                      ======= ======= ====================
Supplemental cash flow disclosure:                                                                     
                                                                                  $         8,410     $        11,795  
   Cash paid for income taxes, net

View source version on businesswire.com: https://www.businesswire.com/news/home/20200730006032/en/

SOURCE: Apple Inc.

Apple
Press Contact: 
Kristin Huguet Quayle, (408) 974-2414
khuguet@apple.com 


Investor Relations Contact: 
Tejas Gala, (669) 227-2402
tgala@apple.com
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