Apple revenue is $8.16b

Apple on Wednesday announced revenue of $8.16 billion --up 9 percent from the year-ago quarter -- and a net quarterly profit of $1.21 billion, or $1.33 per diluted share, beating analysts estimates of earnings of $1.09 per share on revenue of $8 billion. The March results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. For the current quarter, gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter and international sales accounted for 46 percent of the quarter's revenue. Apple said it sold 2.22 million Macs during the quarter, representing a 3 percent unit decline from the year-ago quarter, but that it sold 11.01 million iPods during the quarter, a 3 percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter, the company said.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Peter Oppenheimer, Apple's CFO. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."

The company noted in its release that In accordance with the subscription accounting treatment required by GAAP, it recognizes revenue and cost of goods sold for iPhone and Apple TV over their estimated economic lives but that adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures for the quarter are $9.06 billion of "Adjusted Sales" and $1.66 billion of "Adjusted Net Income."

by MacNN Staff