updated 04:40 pm EST, Wed January 21, 2009
Apple's best quarter ever
Apple today posted record revenue of $10.17 billion and record net quarterly profit of $1.61 billion, or $1.78 per diluted share, compared to revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, equal to the year-ago quarter and international sales accounted for 46 percent of the quarter's revenue. Apple sold 2,524,000 Macs during the quarter, representing nine percent unit growth over the year-ago quarter. The Company sold a record 22,727,000 iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 4,363,000, representing 88 percent unit growth over the year-ago quarter.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone and Apple TV over their economic lives, the company said. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of "Adjusted Sales" and $2.3 billion of "Adjusted Net Income."
"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history--surpassing $10 billion in quarterly revenue for the first time ever," said Steve Jobs, Apple's CEO.
The company generated over $3.6 billion in cash during the quarter and for the second fiscal quarter of 2009, expects revenue in the range of about $7.6 billion to $8 billion along with diluted earnings per share in the range of about $.90 to $1.00, company representatives said.