Apple has announced financial results for its fiscal 2009 third
quarter that ended June 27. It was the best non-holiday quarter for
revenue and earnings in the company’s history.
The company posted revenue of US$8.34 billion and a net quarterly
profit of $1.23 billion, or $1.35 per diluted share. These results
compare to revenue of $7.46 billion and net quarterly profit of $1.07
billion, or $1.19 per diluted share, in the year-ago quarter. Gross
margin was 36.3 percent, up from 34.8 percent in the year-ago
quarter. International sales accounted for 44 percent of the
quarter’s revenue.
In accordance with the subscription accounting treatment required by
GAAP, the company recognizes revenue and cost of goods sold for
iPhone and Apple TV over their estimated economic lives. Adjusting
GAAP sales and product costs to eliminate the impact of subscription
accounting, the corresponding non-GAAP measures for the quarter are
$9.74 billion of “Adjusted Sales” and $1.94 billion of “Adjusted Net
Income.”
Apple sold 2.6 million Macs during the quarter, representing a four
percent unit increase over the year-ago quarter. The Company sold
10.2 million iPods during the quarter, representing a seven percent
unit decline from the year-ago quarter. Quarterly iPhones sold were
5.2 million, representing 626 percent unit growth over the year-ago
quarter. “We’re making our most innovative products ever and our
customers are responding,” said Steve Jobs, Apple’s CEO. “We’re
thrilled to have sold over 5.2 million iPhones during the quarter and
users have downloaded more than 1.5 billion applications from our App
Store in its first year.”
“We’re extremely pleased to report record non-holiday quarter revenue
and earnings and quarterly cash flow from operations of $2.3
billion,” said Peter Oppenheimer, Apple’s chief financial officer.
“Looking ahead to the fourth fiscal quarter of 2009, we expect
revenue in the range of about $8.7 billion to $8.9 billion and we
expect diluted earnings per share in the range of about $1.18 to
$1.23.”