Apple Reports September Quarter 2006 Results
Apple Computer has reported financial results for the September 2006 quarter. According to the press release (18 October 2006), Apple:
posted revenue of $4.84 billion and net quarterly profit of $546 million … . These results compare to revenue of $3.68 billion and net profit of $430 million … in the year-ago quarter.
shipped 1,610,000 Macintosh® computers and 8,729,000 iPods during the quarter, representing 30 percent growth in Macs and 35 percent growth in iPods over the year-ago quarter.
The financial results were good for the share price, moving up 6 percent from $74.53 (18 Oct) to $78.99 (19 Oct).
Apple ended the September 2006 quarter with $10.1 billion in cash and short term investments ($11.50 per diluted share), up from $8.3 billion ($9.53 per diluted share) at end September 2005. Cash and short term investments made 58.6 percent of total assets (down from 71.5 percent at September 2005).
From the conference call (QuickTime webcast or Earnings Podcast at Apple Investor Relations) I heard:
- the growth of 30 percent in Mac shipments is more than 3 times IDC market growth rate projections for the quarter.
- growth in Mac shipments is mainly due to sales of portable computers. Portables make up 61 percent of Mac units sold.
- the iTunes Store served 85 per cent of the US market according to Nielsen SoundScan.
- In this quarter Mac customers new to Mac (at Apples own Apple Stores) went over 50 percent.
- Chief Financial Officer, Peter Oppenheimer, said they “are very enthusiastic about our product pipeline.” In response to an analyst question, Chief Operating Office, Tim Cook, said they are “very confident about what we have in the pipeline.”
- Downloads of Boot Camp have topped 1 million.
© Danny Haynes
