Apple's 2nd Qtr. Results At The High End Of Expectations

in General Discussion edited January 2014
(S/B 3rd Qtr.) Very positive news, particulary on CPU sales:

July 14, 2004 - Apple on Wednesday posted a net profit of US$61 million, or 16 cents a share, for its fiscal 2004 third quarter ended June 26, 2004. These results compare to a net profit of $19 million, or 5 cents per share, in the year-ago quarter. Revenue for the quarter was $2.014 billion, up 30 percent from last year. Analysts surveyed by Thomson First Call had expected Apple to earn 15 cents a share on $1.94 billion in revenue. Apple said it shipped 876,000 Macs and 860,000 iPods during the quarter, representing a 14 percent increase in CPU units and a 183 percent increase in iPods over the year-ago quarter.

Gross margin was 27.8 percent, up from 27.7 percent in the year-ago quarter. Apple said international sales accounted for 39 percent of the quarter's revenue. The quarter's results include an after-tax restructuring charge of $6 million. Excluding this charge, the Company's net profit for the quarter would have been $67 million, or 17 cents per diluted share.

"It was an outstanding quarter-our highest third quarter revenue in eight years," said Steve Jobs, Apple's CEO. "Our Mac-based revenue grew a healthy 19 percent, and our music-based revenue grew an incredible 162 percent. We've got a strong product portfolio, with some amazing new additions coming later this year."

"We were very pleased with our 30 percent year-over-year revenue growth and our operating margin expansion," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fourth quarter of fiscal 2004, we expect revenue of about $2.1 billion and earnings per diluted share of 16 to 17 cents including 1 cent per diluted share in restructuring charges."


  • Reply 1 of 2
    hmurchisonhmurchison Posts: 12,341member
    I'm pleasantly suprised. Especially about notebook sales. I think those can only improve as Apple transitions to the G5 in Powerbooks and faster G4 in iBooks.

    Xserve sales have been better than expected. And iPod demand is still scorching. This bodes well for future of iTMS and further opportunities down the road.
  • Reply 2 of 2
    concordconcord Posts: 312member
    I think hmurchison pretty much summed my feelings on this quarter as well. Still room for improvement though (PM sales fell short of expectations) but this quarter should have a decent shot in the arm with the new iMac coming out and the speedbumped PMs.


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