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AAPL Stock: 119 ( + 1.4 )

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Apple posts $63M profit on revenues of more than $2B

updated 04:30 pm EST, Wed January 14, 2004

Apple posts $63M profit

Apple today announced a net profit of $63 million, or $.17 per diluted share, beating consensus estimates of $.14 per share. These results compare to a net loss of $8 million, or $.02 per diluted share, in the year-ago quarter. Revenue for the quarter reached a four-year high of $2.006 billion, up 36 percent from the year-ago quarter. Gross margin was 26.7 percent, down from 27.6 percent in the year-ago quarter. International sales accounted for 44 percent of the quarter's revenue. Apple said it shipped 829,000 Macs during the quarter, up 12 percent from the year-ago quarter, as well as 733,000 iPods, up 235 percent from the year-ago quarter.

The quarter's results include an after-tax investment gain of $3 million which increased earnings per diluted share by $.01.




"It was an outstanding quarter for Apple, with double-digit unit and revenue growth and over 730,000 iPods sold," said Steve Jobs, Apple's CEO. "We're kicking off 2004 with strong momentum, especially for Mac OS X, which is now used by almost 40 percent of our installed base, iPod and the iTunes Music Store, which has a 70 percent share of the legal music download market."



"We are very pleased to have exceeded our revenue and profit targets for the first quarter," said Fred Anderson, Apple's CFO. "Continued strong asset management enabled us to increase cash by $225 million to just under $4.8 billion. Looking ahead to the second quarter of fiscal 2004, we expect our third consecutive quarter of year-over-year double-digit growth in both revenue and earnings, with revenue of about $1.8 billion and earnings per diluted share of $.08 to $.10."




by MacNN Staff

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Comments

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    hmm

    Sounds pretty damn good. What was the FirstCall expectation?

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    where are you?

    So just where all the people that have been saying Apple will be out of business for the last 15 years? You can point to all the lower marketshare numbers you want but they are one of the few computer companies consistently making money AND still inventing cool stuff. Not just pumping out cookie cutter c*** like Dell.

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    ugh

    estimate for Q2 is 8 to 10 cents. thats sad.

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    ugh

    sell sell sell!

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    Backdating

    Why do you backdate stories? You did not have this at 4:30. The press release came out at 4:31. Be honest.

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    timetraveling

    wow, press release was posted at 4:31 and your story is at 4:30. You're special.

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    timing...

    4:30:59??

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    You know Apple's

    done something right when the first ticks of the stock is DOWN in after hours trading.

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    Re: You know Apple's

    I heard that on CNBC too..

    or

    http://quotes.nasdaq.com/quote.dll?symbol=AAPL&selected=AAPL&mode=frameset&page=afterhours

  1. MacNN.com Reader

    Joined: Dec 1969

    0

    COOL!

    This is great news, that means the Apple Board can purchase Steve another one of those $2 million jets!

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