Wednesday, October 19, 2011

Apple's Q4 results

A record September quarter for Apple:

Revenue of US$28.27 billion VS US$20.34 billion a year ago
Net profit of $6.62 billion or $7.05 per diluted share VS US$4.31 billion, or $4.64 per diluted share a year ago
Gross margin was 40.3 percent VS 36.9 percent
International sales was 63 percent
Cash generated was US$5.4 billion

Units sold

iPhones - 17.07 million (21 percent unit growth over last year)
iPads - 11.12 million (166 percent unit increase over the year)
Macs - 4.89 million (26 percent unit increase)
iPods - 6.62 million (27 percent decline)

These numbers fell below the expectations of analysts and Apple stock fell 7 percent in after-hours trading.

Looking ahead, Apple is predicting revenue of US$37 billion for its first quarter of 2012.

During the earnings conference call, Apple CEO Tim Cook and CFO Peter Oppenheimer also revealed that:

- China accounted for 16 percent of revenue. For the quarter, US$4.5 billion came from China. For fiscal 2011, more than U$13 billion in revenue came from China, compared to US$3 billion the year before.

- Flooding in Thailand has affected disk drive companies who have factories there. This, in turn, will affect the Mac.

The full press release is below. MacDailyNews covered the earnings call in a live blog. As usual, Macworld has nice charts.

CUPERTINO, California—October 18, 2011—Apple today announced financial results for its fiscal 2011 fourth quarter ended September 24, 2011. The Company posted quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion, or $7.05 per diluted share. These results compare to revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share, in the year-ago quarter. Gross margin was 40.3 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.

The Company sold 17.07 million iPhones in the quarter, representing 21 percent unit growth over the year-ago quarter. Apple sold 11.12 million iPads during the quarter, a 166 percent unit increase over the year-ago quarter. The Company sold 4.89 million Macs during the quarter, a 26 percent unit increase over the year-ago quarter. Apple sold 6.62 million iPods, a 27 percent unit decline from the year-ago quarter.

“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” said Tim Cook, Apple’s CEO. “Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”

“We are extremely pleased with our record September quarter revenue and earnings and with cash generation of $5.4 billion during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30.”

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