Apple Reports Third Quarter Results Record June Quarter Revenue and Profit – Mac Sales Set New Record
CUPERTINO, CA (rushprnews) July 26, 2007â€”AppleÂ® today announced financial results for its fiscal 2007 third quarter ended June 30, 2007. The Company posted revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share.
These results compare to revenue of $4.37 billion and net quarterly profit of $472 million, or $.54 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent, up from 30.3 percent in the year-ago quarter. International sales accounted for 40 percent of the quarterâ€™s revenue.
Apple shipped 1,764,000 MacintoshÂ® computers, representing 33 percent growth over the year-ago quarter and exceeding the previous company record for quarterly MacÂ® shipments by over 150,000. The Company also sold 9,815,000 iPods during the quarter, representing 21 percent growth over the year-ago quarter.
â€œWeâ€™re thrilled to report the highest June quarter revenue and profit in Appleâ€™s history, along with the highest quarterly Mac sales ever,â€ said Steve Jobs, Appleâ€™s CEO. â€œiPhone is off to a great startâ€”we hope to sell our one-millionth iPhone by the end of its first full quarter of salesâ€”and our new product pipeline is very strong.â€
â€œWe are very pleased to report strong financial results including cash flow from operations exceeding $1.2 billion for the quarter,â€ said Peter Oppenheimer, Appleâ€™s CFO. â€œLooking ahead to the fourth fiscal quarter of 2007, we expect revenue of about $5.7 billion and earnings per diluted share of about $.65.â€
Apple will provide live streaming of its Q3 2007 financial results conference call utilizing QuickTimeÂ®, Appleâ€™s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Wednesday, July 25, 2007 at www.apple.com/quicktime/qtv/earningsq307/ and will also be available for replay. The QuickTime player is available free for Macintosh and Windows users at www.apple.com/quicktime.
This press release contains forward-looking statements about the Companyâ€™s estimated revenue, iPhoneâ„¢ sales and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include potential litigation and government enforcement actions that may result from the matters investigated by the special committee of the board of directors and the restatement of the Companyâ€™s consolidated financial statements; unfavorable results of legal proceedings; the effect of competitive and economic factors, and the Companyâ€™s reaction to those factors, on consumer and business buying decisions with respect to the Companyâ€™s products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the Companyâ€™s reliance on a sole U.S. service provider for iPhone; the continued availability on acceptable terms of certain components and services essential to the Companyâ€™s business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the effect that product quality problems could have on the Companyâ€™s sales and operating profits; the inventory risk associated with the Companyâ€™s need to order or commit to order product components in advance of customer orders; the effect that the Companyâ€™s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the Companyâ€™s dependency on the performance of distributors and other resellers of the Companyâ€™s products; the Companyâ€™s reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the Companyâ€™s financial results is included from time to time in the Companyâ€™s public reports filed with the SEC, including the Companyâ€™s Form 10-K for the fiscal year ended September 30, 2006, its Forms 10-Q for the quarters ended December 30, 2006 and March 31, 2007, and its Form 10-Q for the quarter ended June 30, 2007 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market this year with its revolutionary iPhone.