Apple 2nd Quarter - 70 Percent increase

Written by Philip Roy | 14 April 2005
Posted in Apple

Apple today announced financial results for its fiscal 2005 second quarter ended March 26, 2005. For the quarter, the Company posted a net profit of $290 million, or $.34 per diluted share.

These results compare to a net profit of $46 million, or $.06 per diluted share, in the year-ago quarter. Revenue for the quarter was $3.24 billion, up 70 percent from the year-ago quarter. Gross margin was 29.8 percent, up from 27.8 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter's revenue.

Apple shipped 1,070,000 Macintosh units and 5,311,000 iPods during the quarter, representing a 43 percent increase in CPU units and a 558 percent increase in iPods over the year-ago quarter.

"We are delighted to report a record second quarter for Apple in both revenue and earnings," said Steve Jobs, Apple's CEO. "Apple is firing on all cylinders and we have some incredible new products in the pipeline for the coming year, starting with Mac OS X Tiger later this month."

"We're very pleased to report 70 percent revenue growth and a 530 percent increase in net income," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third quarter of fiscal 2005, we expect revenue of about $3.25 billion and earnings per diluted share of about $.28."

Conference Call news

• 608,000 Desktops, with the iMac G5, eMac and MacMini's making up 467,000 of that total
• 462,000 Portables were sold of which 251,000 were iBooks and the rest PowerBooks
• Apple shipped 5.3 million iPods during the Quarter
• iTunes stores measures around 70-75% of the music download market although an accurate figure is hard to determine
  

• HP iPod sales made up less than 3% of iPod sales
• Once again the idea of G5 PowerBooks came up. The challenges of putting a G5 processor into a PowerBook was described as "the mother of all thermal challenges"

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