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Apple reports third quarter results


Apple has announced financial results for its fiscal 2013 third quarter that ended June 29. The company posted quarterly revenue of US$35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share.

These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9% compared to 42.8 percent in the year-ago quarter. International sales accounted for 57% of the quarter’s revenue.

The company sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter.

Apple’s Board of Directors has declared a cash dividend of $3.05 per share of the Company’s common stock. The dividend is payable on Aug.15, 2013, to shareholders of record as of the close of business on Aug. 12.

“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” says Apple CEO Tim Cook. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

“We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases,” adds Apple Chief Financial Officer Peter Oppenheimer.

Apple is providing the following guidance for its fiscal 2013 fourth quarter:

° Revenue between US$34 billion and $37 billion;
° Gross margin between 36% and 37%;
° Operating expenses between $3.9 billion and $3.95 billion;
° Other income/(expense) of $200 million;
° A tax rate of 26.5%.

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