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Apple reports record third quarter results

Apple today announced financial results for its fiscal 2008 third
quarter ended June 28, 2008. The company posted revenue of $7.46
billion and net quarterly profit of $1.07 billion, or $1.19 per
diluted share. These results compare to revenue of $5.41 billion and
net quarterly profit of $818 million, or $.92 per diluted share, in
the year-ago quarter. Gross margin was 34.8 percent, down from 36.9
percent in the year-ago quarter. International sales accounted for 42
percent of the quarter’s revenue.

Apple shipped 2,496,000 Macintosh computers during the quarter,
representing 41 percent unit growth and 43 percent revenue growth
over the year-ago quarter. The company sold 11,011,000 iPods during
the quarter, representing 12 percent unit growth and seven percent
revenue growth over the year-ago quarter. Quarterly iPhone units sold
were 717,000 compared to 270,000 in the year-ago-quarter.

“We’re proud to report the best June quarter for both revenue and
earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “We set a
new record for Mac sales, we think we have a real winner with our new
iPhone 3G, and we’re busy finishing several more wonderful new
products to launch in the coming months.”

“We’re extremely pleased with the growth of our business and the
generation of almost $5.4 billion in cash in the first three quarters
of fiscal 2008,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead
to the fourth quarter of fiscal 2008, we expect revenue of about $7.8
billion and earnings per diluted share of about $1.00.”

Apple will provide live streaming of its Q3 2008 financial results
conference call utilizing QuickTime, Apple’s standards-based
technology for live and on-demand audio and video streaming. The live
webcast will begin at 2:00 p.m. PDT on Monday, July 21, 2008 at and will also be available
for replay.

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