Apple Reports December Quarter 2006 Results
Apple Computer has reported financial results for the December 2006 quarter. According to the press release (17 January 2007), Apple:
posted record revenue of $7.1 billion and record net quarterly profit of $1.0 billion … . These results compare to revenue of $5.7 billion and net quarterly profit of $565 million … in the year-ago quarter.
shipped 1,606,000 Macintosh® computers and 21,066,000 iPods during the quarter, representing 28 percent growth in Macs and 50 percent growth in iPods over the year-ago quarter.
This last quarter of iPod shipments was massive compared to previous quarters. Using data from the data summaries with past financial results press releases, I have charted the growth in iPod shipments since the September quarter of 2002. (Apple’s financial year ends with the September quarter, so this December quarter is called Q1 of 2007.) In the chart, one can see the relatively slow start to iPod sales and the holiday season spike from last year and the current quarter.
The share price dipped upon the result, moving down 2 percent from $97.10 (16 Jan) to $94.95 (17 Jan).
Apple ended the December 2006 quarter with $11.9 billion in cash and short term investments ($13.44 per diluted share), up from $10.1 billion ($11.56 per diluted share) at end December 2005. Cash and short term investments made 61.0 percent of total assets (up from 58.8 percent at December 2005).
For more information, listen to the conference call (QuickTime webcast or Earnings Podcast at Apple Investor Relations).
© Danny Haynes
