Apple reports fourth quarter financial results

Record sales see 67% profit increase

23 October 2007 7:17 GMT / By Amy-Mae Elliott

Apple has announced financial results for its fiscal 2007 fourth quarter ended September 29, 2007.

The Company posted revenue of $6.22 billion and net quarterly profit of $904 million.

These results compare to revenue of $4.84 billion and net quarterly profit of $542 million while gross margin was 33.6%, up from 29.2% in the year-ago quarter. International sales accounted for 40% of the quarter’s revenue.

Apple shipped 2,164,000 Macintosh computers, a 34% growth over the year-ago quarter and exceeding the previous quarterly record for Mac shipments by 400,000.

The Company sold 10,200,000 iPods during the quarter, representing 17% growth over the year-ago quarter.

Quarterly iPhone sales were 1,119,000, bringing cumulative fiscal 2007 sales to 1,389,000.

"We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007", said Steve Jobs, Apple's CEO.

"We’re looking forward to a strong December quarter as we enter the holiday season with Apple’s best products ever."

"Apple ended the fiscal year with $15.4 billion in cash and no debt", said Peter Oppenheimer, Apple's CFO.

"Looking ahead to the first quarter of fiscal 2008, we expect revenue of about $9.2 billion and earnings per diluted share of about $1.42."

During a conference call following the announcement, Apple revealed that by their estimates 250,000 iPhones were sold with the intention of unlocking. AT&T revenue was not revealed.

Apple's shares rose on the news, which beat analyst's estimates, to a high at one point of $184, leading to speculation that Apple share price could hit $200 by the end of the year.

Full tags

Biz, Results, Apple