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Wednesday, April 13, 2005, 01:30 pm PT (04:30 pm ET)

Apple announces Q205 profits of $290M on revenues of $3.24B

Apple beats Wall Street estimates, once again.

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."

Apple will provide live streaming of its Q2 2005 financial results conference call utilizing QuickTime, the company'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 Wednesday, April 13, 2005 and will also be available for replay.

AppleInsider will provide coverage of the call.

Apple Stock is down nearly 2% in after-hours trading to $40.23.