Best Quarterly Revenue and Earnings in Apple History
iPod Sales Set New Record
CUPERTINO, Californiaâ€”January 21, 2009â€”AppleÂ® today announced financial results for its fiscal 2009 first quarter ended December 27, 2008. The Company posted record revenue of $10.17 billion and record net quarterly profit of $1.61 billion, or $1.78 per diluted share. These results compare to revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, equal to the year-ago quarter. International sales accounted for 46 percent of the quarterâ€™s revenue.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhoneâ„¢ and Apple TVÂ® over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of â€œAdjusted Salesâ€ and $2.3 billion of â€œAdjusted Net Income.â€
Apple sold 2,524,000 MacintoshÂ® computers during the quarter, representing nine percent unit growth over the year-ago quarter. The Company sold a record 22,727,000 iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 4,363,000, representing 88 percent unit growth over the year-ago quarter.
â€œEven in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple historyâ€”surpassing $10 billion in quarterly revenue for the first time ever,â€ said Steve Jobs, Appleâ€™s CEO.
â€œOur outstanding results generated over $3.6 billion in cash during the quarter,â€ said Peter Oppenheimer, Appleâ€™s CFO. â€œLooking ahead to the second fiscal quarter of 2009, we expect revenue in the range of about $7.6 billion to $8 billion and we expect diluted earnings per share in the range of about $.90 to $1.00.â€