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Highlights from Apple's Q1 financial conference call
January 14, 2004 - 18:01 PST
Apple has just concluded a conference call with financial analysts and press regarding the company's first quarter financial results. MacMinute was present and here are a few of the highlights from the briefing:
- Highest quarter in terms of revenue in 4 years
- Apple sees Q2 earnings per share of 8-10 cents on $1.8 billion in revenue
- 829,000 Macs shipped during the quarter; up 12%
- 733,000 iPods shipped; up 235% ($256 million in revenue)
- Portables accounted for 48% of all Macs sold
- 195,00 PowerBooks shipped
- 201,000 iBooks shipped
- 206,000 Power Macs shipped
- 227,000 iMacs and eMacs shipped
- 30 million songs sold from iTMS so far; 17 million in Q1
- Retail stores had $273 million in revenue; up 83%
- Retail stores delivered $9 million in profit
- Average revenue per store was $4 million
- 5.9 million visitors to Apple Stores in Q1 (6,000 per store per week)
- Tokyo Apple Store first month sales were highest ever; $1 million per week
- San Francisco Apple Store opening in Spring 2004
- Osaka, Japan Apple Store opening in Fall 2004
- Apple plans to have 80 stores open by the end of 2004
- Cash on hand rose to $225 million
- Apple very optimistic about HP iPod deal
- Q1 could have been better if Apple could have kept up with iPod demand
- iPod mini and HP iPod device to have lower margins for Apple
- 8% increase in education sales
- No plans for any other iApps to move to Windows
- Mac OS X 10.3 Panther accounted for $60 million in revenue
- Apple "very pleased" with Best Buy pilot program
- 20 million installed base are able to upgrade to Mac OS X
- 50% of those have already upgraded (50% of eligible installed base)
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