Apple's April 14 Quarterly Conference Call
CBS Marketwatch is reporting that Apple will report a 10 cents a share profit vs 4 cents last year. It should be interesting to learn about iPod mini availability and when, if asked, HP starts rolling out their version of the standard iPod. Of course Apple may say, "we don't comment on future products". G5 sales will be reported and that will be very interesting as some articles suggest the sales so far have been sluggish. The conference call will be available via Quicktime and Apple will post a url Monday or Tuesday if the past is any indication.
Comments
http://www.apple.com/quicktime/qtv/earningsq204/
iPod, iBook, Panther sales seen lifting Apple earnings
April 13, 2004 - 12:13 EDT__ Morgan Stanley has increased earning estimates for Apple, citing better-than-expected second quarter sales of iPods, iBooks and Mac OS X 10.3 (Panther). The firm raised estimates for the quarter to earnings of 10 cents per share on revenue of $1.82 billion, compared with an earlier estimate of 9 cents per share on revenue of $1.81 billion. Morgan Stanley raised fiscal 2004 earnings estimates to 49 cents per share on revenue of $7.69 billion, compared with an earlier estimate for earnings of 45 cents on revenue of $7.50 billion.
http://biz.yahoo.com/prnews/040414/sfw099_1.html
Will post some numbers after I skim through.
Edit:
Gross margin 27.8%, down from 28.3% in year ago quarter.
PowerMac sales: 174k units, down 16% sequentially (revenue down 12% sequentially)
iMac sales: 217k units, down 4% sequentially (revenue equal to last quarter)
iBook sales: 207k units, equal to last quarter (revenue up 1% sequentially)
PowerBook sales: 195k units, down 19% sequentially (revenue down 16% sequentially)
iPod sales: 807k units, up 10% sequentially (revenue up 3% sequentially)
Apple Computer, Inc.
Q2'04 Unaudited Summary Data
Q1'04 Actual Q2'03 Actual Q2'04 Actual
Units Rev Units Rev Units Rev
k $m k $m k $m
Product Summary
iMac (1) 227 $251 256 $302 217 $252
iBook 201 221 133 151 201 223
Power Mac (2) 206 398 156 293 174 349
PowerBook 195 399 166 353 157 336
Subtotal CPUs 829 1,269 711 1,099 749 1,160
iPod 733 256 80 31 807 264
Peripherals & Other HW NM 243 NM 185 NM 272
Software & Other NM 238 NM 160 NM 213
Total Apple $2,006 $1,475 $1,909
Sequential Change Year/Year Change
Units Revenue Units Revenue
Product Summary
iMac (1) -4% 0% -15% -17%
iBook 0% 1% 51% 48%
Power Mac (2) -16% -12% 12% 19%
PowerBook -19% -16% -5% -5%
Subtotal CPUs -10% -9% 5% 6%
iPod 10% 3% 909% 752%
Peripherals & Other HW NM 12% NM 47%
Software & Other NM -11% NM 33%
Total Apple -5% 29%
Earnings per Share Triples
iPod Shipments Grow Over 900 Percent
CUPERTINO, Calif., April 14 /PRNewswire-FirstCall/ -- Apple(R) today
announced financial results for its fiscal 2004 second quarter ended March 27,
2004. For the quarter, the Company posted a net profit of $46 million, or $.12
per diluted share. These results compare to a net profit of $14 million, or
$.04 per diluted share, in the year-ago quarter. Revenue for the quarter was
$1.909 billion, up 29 percent from the year-ago quarter. Gross margin was 27.8
percent, down from 28.3 percent in the year-ago quarter. International sales
accounted for 43 percent of the quarter's revenue.
The quarter's results include an after-tax restructuring charge of $7
million. Excluding this charge, the Company's net profit for the quarter would
have been $53 million, or $.14 per diluted share.
Apple shipped 749 thousand Macintosh(R) units and 807 thousand iPods
during the quarter, representing a 5 percent increase in CPU units and a 909
percent increase in iPods over the year-ago quarter.
"Apple had a great quarter with 29 percent revenue growth and 200 percent
earnings per share growth year-over-year," said Steve Jobs, Apple's CEO. "We
experienced growth in most areas of our business-most dramatically in selling
a record 807,000 iPods, up more than 900 percent over the prior year."
"We are very pleased with our third straight quarter of double-digit
revenue growth," said Fred Anderson, Apple's CFO. "More importantly our
results demonstrate operating margin expansion. Our balance sheet remains very
strong with about $4.6 billion in cash and no debt. Looking ahead to the third
quarter of fiscal 2004, we expect our fourth consecutive quarter of year-over-
year double-digit growth in both revenue and earnings, with revenue of about
$1.925 billion. We expect GAAP earnings per diluted share of $.12 to $.13,
including approximately $.02 per diluted share in restructuring charges."
Non-GAAP Measures
The Company believes that presentation of results excluding items such as
restructuring charges and investment gains provides meaningful supplemental
information to both management and investors that is indicative of the
Company's core operating results.
Apple ignited the personal computer revolution in the 1970s with the Apple
II and reinvented the personal computer in the 1980s with the Macintosh. Apple
is committed to bringing the best personal computing experience to students,
educators, creative professionals and consumers around the world through its
innovative hardware, software and Internet offerings.
Apple will provide live streaming of its Q2 2004 financial results
conference call utilizing QuickTime(TM), 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 Wednesday, April 14, 2004 at
http://www.apple.com/quicktime/qtv/earningsq204/ and will also be available
for replay. The QuickTime player is available free for Macintosh and Windows
users at http://www.apple.com/quicktime .
This press release contains forward-looking statements about the Company's
estimated revenue and earnings for the third quarter of fiscal 2004. These
statements involve risks and uncertainties and actual results may differ.
Potential risks and uncertainties include continued competitive pressures in
the marketplace; the effect competitive and economic factors and the Company's
reaction to them may have on consumer and business buying decisions with
respect to the Company's products; the ability of the Company to make timely
delivery of new programs, products and successful technological innovations to
the marketplace; the continued availability of certain components and services
essential to the Company's business currently obtained by the Company from
sole or limited sources; possible disruption in commercial activities caused
by terrorist activity and armed conflict, such as changes in logistics and
security arrangements, and reduced end-user purchases relative to
expectations; possible disruption in commercial activity as a result of major
health concerns, such as Severe Acute Respiratory Syndrome (SARS); risks
associated with the Company's retail initiative including significant
investment cost, uncertain consumer acceptance and potential impact on
existing reseller relationships; the effect that the Company's dependency on
manufacturing and logistics services provided by third-parties may have on the
quality or quantity of products manufactured; the Company's reliance on the
availability of third-party music content, and the ability of the Company to
successfully evolve its operating system and attract sufficient Macintosh
developers. More information on potential factors that could affect the
Company's financial results is included from time to time in the Company's
public reports filed with the SEC, including the Company's Form 10-K for the
fiscal year 2003, the Company's Form 10-Q for the quarter ended December 27,
2003, and the Company's Form 10-Q for the quarter ended March 27, 2004 to be
filed with the SEC. The Company assumes no obligation to update any forward-
looking statements or information, which speak as of their respective dates.
NOTE: Apple, the Apple logo, Mac, Mac OS, Macintosh, iPod and QuickTime
are either registered trademarks or trademarks of Apple. Other company and
product names may be trademarks of their respective owners.
Seems like a pretty solid quarter for Apple... imagine if they actually got iPod mini shipments out in full force and had one or two product updates.
5:07 $2.38
Originally posted by MacsRGood4U
It's 5: 15 EST and the analyst meeting still hasn't begun or Quicktime isn't working?
It is on, try it again.
[edit:
Based on MacCentral's coverage, there are some real humdingers in this call.
1) It looks like Apple would have shipped 16,000 Xserves this quarter if they didn't have to delay them. That's a really solid number.
2) Japan sales down 21 percent. This is after the Ginza store opens? Anyone in Japan care to speculate?
3) Confirmed: PMG5 sales were less than stellar. Expect Apple to go back to being as completely shrouded in secrecy as possible. iMac sales are actually holding steady.
4) 12,000 distributors/retailers, up from 8,000 last year, and most of those overseas. Wow! Any comments from folks outside the US?
5) Overall Edu sales up 10% on higher ed sales alone. They must be making serious inroads back into higher ed.
6) IBM catches up to Xserve demand next quarter. Apple catches up to iPod mini demand (incl. the international market) in (Apple's) Q4, ending October! Yowch!
7) 13% of sales to SMBs, up from 10% last quarter and 5% this time last year. The small business initiative is showing results.
]
Mommy.
"Is IBM the problem on the 90 nm for the x-serves?"
"Yes."
:O
Originally posted by Kickaha
Good lord. AAPL at 29.20 and rising.
Mommy.
shit! when did it hit that and why is it so low now??? damn my busy schedule today!
Someone also asked about the iPod mini static rumours. The Apple folk conceded hearing the same stories but didn't seem too worked up about them (that's pure interpretation on my part though).
UPDATE: Now working.