Apple Reports Second Quarter Results
Earnings Grow 88 Percent Year-over-Year
CUPERTINO, California (rushprnews) April 26, 2007â€”AppleÂ® today announced financial results for its fiscal 2007 second quarter ended March 31, 2007. The Company posted revenue of $5.26 billion and net quarterly profit of $770 million, or $.87 per diluted share. These results compare to revenue of $4.36 billion and net quarterly profit of $410 million, or $.47 per diluted share, in the year-ago quarter. Gross margin was 35.1 percent, up from 29.8 percent in the year-ago quarter. International sales accounted for 43 percent of the quarterâ€™s revenue.
Apple shipped 1,517,000 MacintoshÂ® computers and 10,549,000 iPods during the quarter, representing 36 percent growth in Macs and 24 percent growth in iPods over the year-ago quarter.
â€œThe Mac is clearly gaining market share, with sales growing 36 percentâ€”more than three times the industry growth rate,â€ said Steve Jobs, Appleâ€™s CEO. â€œWeâ€™re very excited about the upcoming launch of iPhone in late June, and are also hard at work on some other amazing new products in our pipeline.â€
â€œWe are very pleased to report the most profitable March quarter in Appleâ€™s history,â€ said Peter Oppenheimer, Appleâ€™s CFO. â€œLooking ahead to the third fiscal quarter of 2007, we expect revenue of about $5.1 billion and earnings per diluted share of about $.66.â€
Apple will provide live streaming of its Q2 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, April 25, 2007 at www.apple.com/quicktime/qtv/earningsq207/ 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 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 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 make timely delivery of new programs, products and successful technological innovations to the marketplace; 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; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; and risks associated with the Companyâ€™s retail initiative, including significant investment cost, uncertain consumer acceptance and potential impact on existing reseller relationships. 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 Form 10-Q for the quarter ended December 30, 2006 and its Form 10-Q for the quarter ended March 31, 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 will enter the mobile phone market this year with its revolutionary iPhone.
RUSH PR NEWS newswire and press release