Apple posts net profit of $295 million on $3.49 billion revenue, highest in Apple’s history

Apple today announced financial results for its fiscal 2005 first quarter ended December 25, 2004. For the quarter, the Company posted a net profit of $295 million, or $.70 per diluted share. These results compare to a net profit of $63 million, or $.17 per diluted share, in the year-ago quarter. Revenue for the quarter was $3.49 billion, up 74 percent from the year-ago quarter. Gross margin was 28.5 percent, up from 26.7 percent in the year-ago quarter. International sales accounted for 41 percent of the quarter’s revenue.

Apple shipped 1,046,000 Macintosh units and 4,580,000 iPods during the quarter, representing a 26 percent increase in CPU units and a 525 percent increase in iPods over the year-ago quarter.

“We are thrilled to report the highest quarterly revenue and net income in Apple’s history,” said Steve Jobs, Apple’s CEO in the press release. “We’ve sold over 10 million iPods to date and are kicking off the new year with a slate of innovative new products including iPod shuffle, Mac mini and iLife ’05.”

“We’re pleased to report 74 percent revenue growth, 26 percent Mac unit growth and 525 percent iPod unit growth,” said Peter Oppenheimer, Apple’s CFO in the press release. “Looking ahead to the second quarter of fiscal 2005, we expect revenue of about $2.9 billion and earnings per diluted share of about $.40.”

Apple will provide live streaming of its Q1 2005 financial results conference call utilizing QuickTime, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PST on Wednesday, January 12, 2005 at http://www.apple.com/quicktime/qtv/earningsq105/ and will also be available for replay.

In Q1 – 2005 Apple unit shipments:
456,000 – iMac, eMac (vs. Q1 – 2004: 227,000, +101%)
271,000 – iBook (vs. Q1 – 2004: 201,000, +35%)
167,000 – Power Mac, Xserve (vs. Q1 – 2004: 206,000, -19%)
152,000 – PowerBook (vs. Q1 – 2004: 195,000, -22%)
4,580,000 – iPod, iPod mini (vs. Q1 – 2004: 733,000, +525%)

Detailed info here.

24 Comments

  1. NICE!!

    Damn

    NICE!!!

    Damn

    Don’t know what to say. MAc sales up 26% y/y.
    Can’t wait until a year from now. Hopefully with Mac Mini things can turn even more. Lets see a Mac Mini sale of 100,000 at next quartly report. and steady or increased sales of other macs.

    “LATER” as in sooner or later people will get it.

  2. So who here thinks that they’ll sell a million mac minis a quarter at least once this year. I do, I think they just might. Especially when the reviews start to hit and product actually gets delivered. Might be a nice pool to start up. How many Mac minis will Apple sell this year? Keep a running chart of all the Mac sites out there and there predictions.

  3. A few weeks ago I predicted $3.5 Bil revenue (actually rounded up from $3.493 Bil. So I got that part right. I also predicted $.56/share profit, which was way higher than any pro analyst but still way below actual. I factored in more slightly iPods and way less CPUs than actually were sold. I would guess that’s why my EPS figure was off, right?

    At an industry standard multiplier of 35 and a projected 2005 EPS of $2.75 (my figure) I’d say we’re looking at a share price target of about $96.25 at this point. What do you think?

  4. Way way way cool. I saw the Mac mini and sold 3 stocks to buy more AAPL. Wish it was more but at least I am in on it a bit. (I also wish I would have done that a LOT earlier but what are ya gonna do? At least this time I am not totally in the “I wish I woulda” department.

  5. Turdott is actually still formulating his smartass response to Mac mini, largely because – as of Monday – his “expert” prognostication was�

    [I]I wish Apple would spend more effort making its Mac successful, but honestly, I don’t expect an inexpensive iMac out of Macworld. Instead, the company will likely release a device (or devices) that build off the success of the iPod, and are only passingly Mac related. The future of Apple, clearly, is in consumer electronics, and not in computing. That said, I expect Apple to wow us this week as usual.[/I]

    So, to recap: –

    No inexpensive iMac!
    Release a device that builds on success of iPod and are only passingly Mac-related.

    So, the Mac mini obviously doesn’t exist.
    And the iPod shuffle is only passingly related to a Macintosh.
    Also, Apple didn’t release iLife 05 or iWork

    The man is a buffoon�

  6. Interestingly though, there’s a decrease in sales of Powerbooks and PowerMacs, which are the high end Macs. There was an increase in the low end mac sales, however (iBooks, eMacs, and iMacs). It is true that major revisions of the line occurred right before last year, which explains their increases then and subsequent decreases now. But it could also signal the importance of the low-end Mac in today’s market. This means good news for the Mac mini.

    My MDN word is closed… Does that refer to the closed nature of iTunes or is this a phantom look at what the future might (sadly) hold if the Mac Mini doesn’t catch?

  7. The powermacs are too expensive for most people. I would buy one if I could afford it. I think if they drop the price a wee bit it would help with sales. But face it 2500 for the machine and 1000 at least for the display – that’s a lot of wonga dude!

    The PBs are great but a long in the tooth. A lot of people arer holding out for the G5 version. Could be a long wait. Again Apple could sell more if they drop the price by 200 bucks. Is it worth it for them – I dunno

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