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Apple Announces FY08 Q4 Earnings With Adjusted Sales of US$11.7B

Apple Announces FY08 Q4 Earnings With Adjusted Sales of US$11.7B

by , 4:40 PM EDT, October 21st, 2008

Apple, Inc. announced its fiscal fourth quarter earnings results on Tuesday. The company posted revenue of US$7.9B and a quarterly profit of $1.14B. The company shipped 2.611 million Macs, 11.05 million iPods and almost 6.9 million iPhones.

Because Apple uses "subscription accounting" for iPhone and Apple TV, the adjusted sales were reported as US$11.68B.

"Apple shipped 2,611,000 Macintosh computers during the quarter, representing 21 percent unit growth and 17 percent revenue growth over the year-ago quarter. The Company sold 11,052,000 iPods during the quarter, representing eight percent unit growth and three percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 6,892,000 compared to 1,119,000 in the year-ago-quarter," Apple reported.

"We're very pleased to have grown revenue 35 percent and to have generated $9.1 billion in cash in fiscal 2008," said Peter Oppenheimer, Apple's CFO. "Looking ahead, visibility is low and forecasting is challenging, and as a result we are going to be prudent in predicting the December quarter. We are providing a wide range for our guidance, targeting revenue of $9.0 to $10.0 billion and earnings per diluted share between $1.06 and $1.35."

Watch for continuing coverage of Apple's earnings report later this afternoon.

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