Apple Posts Profit of $106 Million, 2 Million iPods Sold [UPDATED]

October 12th, 2004 at 3:00 PM - Apple Stock Watch by Brad Gibson

Apple Computer reported Wednesday fiscal fourth-quarter net profit of US$106 million, or 26 cents a share, on revenue of $2.35 billion. Excluding $4 million in after-tax restructuring charges, Apple earned $110 million, or 27 cents a share.

Revenue was bolstered by the sale of 2,016,00 iPod and iPod mini portable digital music players, the company said, as well as 836,00 Macs. That represents a 6% increase in Mac unit sales compared to last year, and a 500% increase in the number of iPods sold.

"Weire pleased to report 37 percent revenue growth for the quarter and operating margin above 5 percent," said Apple Chief Financial Officer Peter Oppenheimer in a prepared statement. "Looking ahead to the first quarter of fiscal 2005, we expect revenue of between $2.8 and $2.9 billion, operating margin above 7 percent and earnings per diluted share of $.39 to $.42."

Analysts polled by Thomson First Call expected Apple to earn 18 cents a share, on $2.1 billion in revenue, for its just-ending fiscal fourth quarter. During the same period a year ago, Apple earned 8 cents a share on revenue of $1.72 billion.

For the full fiscal year, Apple reported profits of U$276 million on revenue of $8.28 billion. This compares to a net income of $69 million on revenue of $6.21 billion in 2003.

Apple stock (AAPL) closed Wednesday up $1.46, or 3.81%, at $39.75 on volume of 14.2 million share

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