Shrinking profit margins in the personal computer...

Shrinking profit margins in the personal computer industry sent Apple Computer Inc.’s second-quarter net income down 18% to $110.9 million, or 92 cents a share.

In the year-earlier period, Apple reported second-quarter net income of $135.1 million, or $1.09 a share. Revenue for the quarter ended March 26 rose 15% to $1.97 billion from $1.7 billion.