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 TMO Headlines - Updated September 27th

Mon, 4:20 PM
Spending a Week With the Apple Watch SE: Should You Get it Over the Series 8?
Mon, 4:13 PM
Apple Pay Later Service May Come Later, in Spring 2023
Mon, 2:59 PM
With James Earl Jones Retiring, Voice of Sith Lord Darth Vader to Live On Through AI
Mon, 2:09 PM
Sales Skew Huge for iPhone 14 Pro and a Surprise Super Bowl Halftime Headliner -
Mon, 1:24 PM
Report Suggests Apple May Unveil New 2022 Macs and iPad Pro Models Through Press Releases, Not an October Event
Mon, 1:18 PM
Ryan Reynolds and Will Ferrel Team-Up with Octavia Spencer For Christmas Musical 'Spirited' Arriving to Apple TV+
Mon, 12:24 PM
Apple Begins Fully Manufacturing iPhone 14 Models in India
Mon, 12:11 PM
YouTuber Breaks Table Before Breaking the New Apple Watch Ultra in Durability Test
Mon, 12:10 PM
Report: As Demand for iPhone 14 Pro Rises, Apple Might Break Its Global Average Selling Price
Mon, 11:37 AM
Rihanna Will Headline Apple Music's First NFL Super Bowl Halftime Show
Mon, 3:00 AM
The Super Bowl Halftime Magic Show - TMO Daily Observations 2022-09-26
Fri, 3:39 PM
Apple TV+ Lands Two-Season Order for 'Better Call Saul' Co-Creator Vince Gilligan's New Series
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!