Apple posts profit

Apple today posted a net profit of $290 million, or $.34 per diluted share for its fiscal 2005 second quarter ending March 26, 2005--with increased revenue of $3.24 billion, which was up 70 percent from the year-ago quarter. The results compare to a net profit of $46 million, or $.06 per diluted share, in the year-ago quarter and by 10 cents per share and ahead of their projected $3.18 billion in revenue. Gross margins were 29.8 percent, up from 27.8 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter's revenue. Apple said it shipped 1,070,000 Macs and 5,311,000 iPods during the quarter, representing a 43 percent increase in CPU units and a 558 percent increase in iPods over the year-ago quarter.

"We are delighted to report a record second quarter for Apple in both revenue and earnings," said Steve Jobs, Apple's CEO. "Apple is firing on all cylinders and we have some incredible new products in the pipeline for the coming year, starting with Mac OS X Tiger later this month."

"We're very pleased to report 70 percent revenue growth and a 530 percent increase in net income," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third quarter of fiscal 2005, we expect revenue of about $3.25 billion and earnings per diluted share of about $.28."

by MacNN Staff