Apple Hits Four-Year High on Audio Boom
Apple Computer on Wednesday reported first-quarter results that exceeding the company's own guidance, showing the highest quarterly revenue in four years.Apple Computer Inc. on Wednesday reported first-quarter results that exceeding the companys own guidance, showing the highest quarterly revenue in four years. This number was $2 billion, up 36 percent from the year-ago quarter, with a net profit of $63 million, or $0.17 per diluted share. This compares to a net loss of $8 million for the year-ago quarter. Speaking in a conference call, Apple Chief Financial Officer Fred Anderson lauded strong sales of software, such as Mac OS X 10.3 upgrades, as well as sales of peripherals and iPods; he also noted that portable computer sales were at a "record high," validating Apple CEO Steve Jobs announcement of 2003 as "the year of the laptop." Anderson also called it a "blowout quarter" for the iPod. An Apple press release stated that 733,000 iPods were sold in the quarter, an increase of 235 percent from the year-ago quarter, with "a little over two-thirds" being U.S. sales. "It remains clearly the number one MP3 player" in the market, he said.
Overall Macintosh shipments hit 829,000, up 12 percent from the year-ago quarter. Anderson broke out some details, saying that Apple sold 206,000 Power Mac professional desktops and 227,000 iMac consumer machines in the quarter. The Power Mac sales showed a "stronger than expected" demand for the high-end, dual-processor model.