Apple Computer said yesterday earnings for its fourth quarter ending September 30th would be "substantially" below expectations, after sales fell short of estimates.

In a statement, the company which employs about 1,000 at its Cork premises, said a slowdown in all its regions of operation, a weaker-than-expected performance by its education sales division, which usually peaks in September, and a worse-than-expected start for its Power Mac G4 Cube had led it to revise revenue forecasts to between $1.85 billion (€2.09 billion) and $1.90 billion. Earnings per share excluding exceptional items are expected at 30-35 cents.

Apple said it was reviewing its plans going forward and expected to announce lower growth targets for the next quarter and for the next fiscal year when it announced its final results on October 18th.