The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Posts Profit of $61 million; Revenue Jumps 30 Percent

Apple Posts Profit of $61 million; Revenue Jumps 30 Percent

by , 5:45 PM EDT, July 14th, 2004

Apple made a profit of US$61 million in the third quarter, or US$0.16 per diluted share. Revenue was just over US$2 billion, up 30 percent from a year ago. Gross margins were up just over a point, to 27.8 percent. Also this quarter the company spent US$6 million in a one-time expenditure toward restructuring. Apple also enjoyed a 14 percent increase in CPU sales and a 183 percent increase in iPod sales over the year-ago quarter. From the press release:

Apple today announced financial results for its fiscal 2004 third quarter ended June 26, 2004. For the quarter, the Company posted a net profit of $61 million, or $.16 per diluted share. These results compare to a net profit of $19 million, or $.05 per diluted share, in the year-ago quarter. Revenue for the quarter was $2.014 billion, up 30 percent from the year-ago quarter. Gross margin was 27.8 percent, up from 27.7 percent in the year-ago quarter. International sales accounted for 39 percent of the quarter’s revenue.

The quarter’s results include an after-tax restructuring charge of $6 million. Excluding this charge, the Company’s net profit for the quarter would have been $67 million, or $.17 per diluted share.

Apple shipped 876 thousand Macintosh® units and 860 thousand iPods during the quarter, representing a 14 percent increase in CPU units and a 183 percent increase in iPods over the year-ago quarter.

“It was an outstanding quarter—our highest third quarter revenue in eight years,” said Steve Jobs, Apple’s CEO. “Our Mac-based revenue grew a healthy 19 percent, and our music-based revenue grew an incredible 162 percent. We’ve got a strong product portfolio, with some amazing new additions coming later this year.”

“We were very pleased with our 30 percent year-over-year revenue growth and our operating margin expansion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth quarter of fiscal 2004, we expect revenue of about $2.1 billion and earnings per diluted share of $.16 to $.17, including $.01 per diluted share in restructuring charges.”

The analyst conference call replay is available on QuickTime webcast.

Recent Headlines - Updated May 26th

Wed,3:10 PM
How to Deauthorize All Devices in iTunes 12
Tue,10:25 AM
Hold on to Your Pants, Siri, Microsoft’s Cortana is Coming to iPhone
9:20 AM
Local Content Deals to Delay Apple’s Streaming TV Plans
5:26 AM
Apple Promotes Jony Ive to Chief Design Officer, Creates VPs for Hardware and UI Design
Sun,12:13 PM
MGG 554: Sleepy Macs Sometimes Go To Work
Sat,10:30 AM
How to Decide Between a Smartswitch and a Timer for Your Smarthome
Fri,6:47 PM
1987 Apple Promo Video Hints at Hubris of the 1990s
3:29 PM
Blur Premium Privacy Protection Lifetime Subscription: $49.99
2:55 PM
Apple May Finally Be Ready to Reinvigorate the iPad
2:39 PM
Google Study Finds ‘Security Questions’ Next to Useless
1:08 PM
TMO Daily Observations 2015-05-22: Fingerprints to Google and Apple Watch Heartrate Monitoring
11:16 AM
Apple Watch OS Update Reduces Background Heart Rate Monitoring Frequency
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!