Apple does it again with $123 million quarter

Apple Computer posted its fifth consecutive quarter in the black with a $123 million profit on $1.7 billion in sales, an 8% improvement from thesame quarter a year before. Apple says that 519,000 iMacs were sold in thequarter, which was below estimates, but still a stunning achievement for acompany that is no longer seen as a threat to Windows.

"Unit growth year-over-year was three to four times higher than the industry average," said Steve Jobs, Apple's "iCEO." "In addition, Apple ended the quarter with only two days of inventory, besting industry-leadingDell's seven days of inventory.