Apple results: Macs down a skinch, iPods and iPhone both up nicely
Computer sales were down a bit, but less than many analysts expected. Moreover, the company’s portable media player and handset sales more than made up the difference.
Apple has announced financial results for its fiscal 2009 second quarter ended March 28, 2009. The Company posted revenue of $8.16 billion and a net quarterly profit of $1.21 billion, or $1.33 per diluted share. These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter. International sales accounted for 46 percent of the quarter’s revenue.
“We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,†said Peter Oppenheimer, CFO. “Apple’s financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00.â€
• 2.22 million Macs, 3 percent decline
— Desktop roll out on March 17th helped bolster unit volume for the quarter
— Education has strongly hit Mac sales in the US
• 3.79 million iPhones, 123 percent growth
• 11 million iPods, 3 percent growth
— Over 70 percent market share
— Good sales in UK, France, Germany, Japan, Australia and China
— “From a mix point of view, the iPod touch is clearly a runaway hit,” Tim Cook
• Apple retail $1.4 billion
— Same store sales down marginally
— On track to open 25 stores, half overseas
• Cash, short term investments of $28.9 billion
Listen to the webcast of the Apple Q2 Fiscal Results Analyst Conference Call here (QuickTime required).
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April 23rd, 2009
Opening 25 more stores. Amazing.