Wednesday, April 22, 2009, 04:00 pm
Apple profits rise 15% on sales of 2.2M Macs, 11M iPodsApple said Wednesday that second-quarter profits rose more than 15 percent to $1.21 billion, or $1.33 per diluted share, on record non-holiday quarter sales of $8.16 billion for the three-month period ended March 28, 2009.
These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter. International sales accounted for 46 percent of the quarter's revenue.
Apple sold 2.22 million Macintosh computers during the quarter, representing a three percent unit decline from the year-ago quarter. The company also sold 11.01 million iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter.
"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Apple chief financial officer Peter Oppenheimer. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet."
Looking ahead to the third fiscal quarter of 2009, Apple said it expects revenue in the range of about $7.7 billion to $7.9 billion and diluted earnings per share in the range of about $.95 to $1.00."
In accordance with the subscription accounting treatment required by GAAP, Apple 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 $9.06 billion of "Adjusted Sales" and $1.66 billion of "Adjusted Net Income."
Apple will provide live streaming of its Q2 2009 financial results conference call utilizing QuickTime. The live webcast will begin at 2:00 p.m. PST today. AppleInsider will provide full coverage.
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