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 May 29th

Sun, 11:36 AM
Secure Document Syncing, Splitting Audio & More – Mac Geek Gab 659
Sun, 5:30 AM
Get Free Bitcoins from 23 Faucets That Pay
Fri, 6:39 PM
Apple Could Own Device-Centric AI with Custom Chip
Fri, 5:03 PM
Here’s What Kik Users Need to Know About Kin Cryptocurrency
Fri, 4:48 PM
Sid Meier's Railroads for Mac Hits Steam Platform
Fri, 4:19 PM
The Touchbar MacBook Pro is a Disposable Embarrassment
Fri, 3:50 PM
The 5 Best PC Motherboards for Creating a Hackintosh
Fri, 3:42 PM
Leaked Memo Pegs iPhone 8 Launch After September 17
Fri, 2:15 PM
Apple Music Is Turning Apple into a Media Giant
Fri, 1:37 PM
Apple Watch Tops Heart Rate Monitor Study, Adam Curry's Podcaster Pro - TMO Daily Observations 2017-05-26
Fri, 11:21 AM
Adam Curry's Podcaster Pro Aims to be All-in-One Podcasting Solution
Fri, 11:17 AM
iPhone 8 Cases Already for Sale on Alibaba
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!