Apple posts $46 million profit on strong iPod sales
April 14, 2004 - 16:33 PDT   Apple on Wednesday posted a net profit of US$46 million, or 12 cents a share, for its fiscal 2004 second quarter ended March 27, 2003. These results compare to a net profit of $14 million, or 4 cents per share, in the year-ago quarter. Revenue for the quarter was $1.909 billion, up 29 percent from last year. Apple said it shipped 749,000 Macs and 807,000 iPods during the quarter, representing a 5 percent increase in CPU units and a 909 percent increase in iPods over the year-ago quarter. "Apple had a great quarter with 29 percent revenue growth and 200 percent earnings per share growth year-over-year," said Apple CEO Steve Jobs. "We experienced growth in most areas of our business-most dramatically in selling a record 807,000 iPods, up more than 900 percent over the prior year."

Gross margin was 27.8 percent, down from 28.3 percent in the year-ago quarter. Apple said international sales accounted for 43 percent of the quarter's revenue.

"We are very pleased with our third straight quarter of double-digit revenue growth," said Apple CFO Fred Anderson. "More importantly our results demonstrate operating margin expansion. Our balance sheet remains very strong with about $4.6 billion in cash and no debt. Looking ahead to the third quarter of fiscal 2004, we expect our fourth consecutive quarter of year-over- year double-digit growth in both revenue and earnings, with revenue of about $1.925 billion. We expect GAAP earnings per diluted share of $.12 to $.13, including approximately $.02 per diluted share in restructuring charges."

Today on MacMinute...

MacMinute Final Post
MacMinute update
Clarification from Julie
Upcoming Changes For MacMinute
MacMinute update from the Flack family
Pro Applications Update 2008-01
Burger Shop now available
Adobe Photoshop Lightroom 1.4.1 update posted
MacBook Air Bluetooth Firmware Update 1.0 posted
Deals: Toon Boom Storyboard' 32% off today only
Equinux enhances The Tube 2.6 with new EPG engine
iPresentee releases new add-ons for Keynote
Deals: Cheetah3D 47% off today only
Creaceed ships Morph Age Regular/Pro 4.0
New iPhone cases now available from DLO
Stairways Software releases Keyboard Maestro 3.0
Deals: Sandvox 39% off today only
New Adobe TV Programming comes online
Apple releases numerous updates
Deals: NetShade 48% off today only