Sunday, January 25, 2009

Apple First Quater Results Turned In for 2009

Apple has announced their financial results for the fiscal 2009 first quater which ended on December 27, 2008. With these results Apple posted a record revenue of $10.17 billion and a record of$1.61 billion in net quarterly profit which comes out to $1.76 per diluted share. According to Apple these results match up against last years $9.6 billion in revenue and $1.58 billion in net quarterly profit, or $1.76 per diluted share. This years gross margain was 34.7 percent, equal to last years and International accounted for 46 percent of annual revenue.

Apple recognizes revenue and cost of goods sold for the iPhone and the Apple t.v. over their economic lives in accordance with the subscription accounting treatment required by GAAP. The corresponding non-GAAP measures for this quater $11.8 billion of Adjusted Sales and $2.3 billion of Adjusted Net Income due to Apple adjusting GAAP salesproduct costs to eliminate the impact of subscription accounting.

Representing 9 percent unit growth over the year-ago quater is the fact that Apple sold 2,524,000 Macintosh computers during the quater. Apple also sold a record 22,727,000 iPods during the quater which represented a 3 percent unit growth over the year-ago quater. And representing 88 percent of unit growth over the year-ago quater was the iPhone which sold 4,363,000 units.

Apple CEO Steve Jobs stated, "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." Apple CFO Peter Oppenheimer also had this to say, "Our outstanding results genertated $3.6 billion in cash during the quater. Looking ahead to the second fiscal quater of 2009, we expect revenue in the range of $7.6 billion to $8 billion and we expect diluted earnings per share in the range of $0.90 to $1.00."

Apple seems to be doing very well for themselves reporting record statistics. With the new year starting, a new President taking office, and Steve Jobs temporarily stepping down we can only speculate at what will happen next for Apple

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