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AAPL Stock: 524.94 ( + 5.93 )

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Apple publishes FY2007 financial results

updated 05:00 pm EST, Fri November 16, 2007

Apple FY2007 info released

Apple has published a report on its 2007 fiscal year, revealing a number of critical facts about the company. The company accumulated approximately $24 billion in revenue for the year, creating $3.5 billion in net profit; this marks an improvement over 2006's figures of $19.3 in revenue and $2 billion in profit, although it implies that growth was not proportional. The company is now also controlled by 30,336 shareholders, of whom CEO Steve Jobs is only second with over 5.5 million shares; the biggest investor is Fidelity Investments, which owns nearly 56.6 million shares.

Jobs is joined in the board of directors by William Campbell, Arthur Levinson, Jerome York, Millard Drexler, Al Gore and Eric Schmidt. The group's Compensation Committee, composed of Campbell, Drexler and Gore, has recommended that Jobs accept a real salary in FY2008; presently, Jobs receives token pay of $1 per year, the rest of his income coming from share dividends.

Apple's suppliers have changed somewhat: while many of the key companies remain, such as ATI, Hitachi, LG.Philips and Samsung, it has added three new companies, mainly Infineon, Murata Manufacturing and National Semiconductor. Factories continue to be spread around the world, but the report notes that iPods, MacBooks and the iPhone are effectively built entirely in China.

In terms of expenses, these included $1.1 billion in rent for 197 retail stores, $782 million in research and development, and $467 million in advertising. Apple paid its NAND flash suppliers an advance of $1.25 billion during 2006, but as of September 29th 2007, only $208 million of this had been consumed.

Roughly 9,000 new full-time employees have been hired since 2006, for a total or 21,600. The company has meanwhile reduced its temporary workforce to 2,100, a drop of 300 from last year.




by MacNN Staff

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Comments

  1. rtbarry

    Joined: Dec 1969

    0

    now...?

    can AAPL jump back up, please?

  1. ZinkDifferent

    Joined: Dec 1969

    0

    the rule...

    ...is that on the eve of spectacularly good news, AAPL will drop further.

    So? Time to pick up more shares.

    It will head back up, to nestle among the $190s, sometimes after the holidays.

  1. Constable Odo

    Joined: Dec 1969

    0

    wall street idiots...

    only want to see hard sales numbers from Apple, otherwise, they'll just keep Apple's stock price from climbing, while boosting RIM, Google and Baidu on potential sales.

  1. chucker

    Joined: Dec 1969

    0

    r&d spend

    interesting to see that the R&D spend is so little, (probably Dell still spends more)

    They spend half as much advertising, as they do developing new products (well its probably less, since a lot of the extra rent they pay is for having high profile Applestore locations which is basically advertising too).

    How about hiring a few more engineers Steve?

  1. mfethers

    Joined: Dec 1969

    0

    re: r&d spent

    look what they've got out of that R&D. More engineers will not make a better product. Witness Dell, witness Microsoft.

  1. rtbarry

    Joined: Dec 1969

    0

    obviously...

    ...Apple never comes out with new, innovative products. They never make products that inspires knock-off's, add new words to the worldwode lexicon, change how people listen to music or anything like that. I mean, they couldn't possibly be doing that... they don't spend as much as DELL. So how could they?

    Oh hold it, DELL has never invented ANYTHING! Unless you count rebadging junk as inventing something.

    Seriously, if you're gonna troll, do it with some style. Put a little effort into it.

  1. MacOS

    Joined: Dec 1969

    0

    Rent

    $465,000 per month per store in Rent? I understand the malls warlords (landloards) take a few points (2% to 4%) of every dollar, but this figure seems wrong reguardless.

  1. Loren

    Joined: Dec 1969

    0

    re: r&d spent

    3-plus % is a pretty good corporate R&D budget. I think 3M puts a little more.

  1. Loren

    Joined: Dec 1969

    0

    more on R&D

    I looked it up:

    "Apple, number one for innovation in 2007, spent 5.93 percent of sales on R&D in 2004, but because sales have risen by 2.5 times, and R&D rose by only 45 percent, its R&D fell to 3.69 percent of sales in 2006. "

    Source; http://www.todaysengineer.org/2007/Jun/rand.asp

  1. rtbarry

    Joined: Dec 1969

    0

    r&d...

    ...correct. if you're already innovating and constantly, successfully evolving your products, just throwing more money at r&d to keep your "percentage" up does not make sense. a dramatic increase in sales makes that percentage smaller, not a lessening commitment to r&d.

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