Apple posts $410m profit

Apple today announced revenue of $4.36 billion and a net quarterly profit of $410 million, or $.47 per diluted share, beating analyst estimates for net profit ($0.42) but falling short of the Street's revenue estimates ($4.52 billion). The March quarter results compare to revenue of $3.24 billion and a net profit of $290 million, or $.34 per diluted share, in the year-ago quarter. Gross margin was 29.8 percent, equivalent to the year-ago quarter. International sales accounted for 43 percent of the quarter's revenue. Apple shipped 1,112,000 Macs and 8,526,000 iPods during the quarter, representing 4 percent growth in Macs and 61 percent growth in iPods over the year-ago quarter.

"We've generated over $10 billion in revenue and almost $1 billion in earnings in the first half of fiscal 2006," said Steve Jobs, Apple's CEO. "Our transition to Intel processors is going very well, and our music business just experienced another quarter of outstanding growth."

"We're very pleased to report the second highest quarterly sales in Apple's history, resulting in year-over-year revenue growth of 34 percent and earnings growth of 41 percent," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third quarter of fiscal 2006, we expect revenue of about $4.2 to $4.4 billion. We expect GAAP earnings per diluted share of about $.39 to $.43, including an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.43 to $.47."

by MacNN Staff