Apple today announced financial results for its fiscal 2006 second quarter ended April 1, 2006. The Company posted revenue of $4.36 billion and a net quarterly profit of $410 million, or $.47 per diluted share. These results compare to revenue of $3.24 billion and a net profit of $290 million, or $.34 per diluted share, in the year-ago quarter. Gross margin was 29.8 percent, equivalent to the year-ago quarter. International sales accounted for 43 percent of the quarter’s revenue.
Apple shipped 1,112,000 Macintosh computers and 8,526,000 iPods during the quarter, representing 4 percent growth in Macs and 61 percent growth in iPods over the year-ago quarter.
“We’ve generated over $10 billion in revenue and almost $1 billion in earnings in the first half of fiscal 2006,” said Steve Jobs, Apple’s CEO in the press release. “Our transition to Intel processors is going very well, and our music business just experienced another quarter of outstanding growth.”
“We’re very pleased to report the second highest quarterly sales in Apple’s history, resulting in year-over-year revenue growth of 34 percent and earnings growth of 41 percent,” said Peter Oppenheimer, Apple’s CFO in the press release. “Looking ahead to the third quarter of fiscal 2006, we expect revenue of about $4.2 to $4.4 billion. We expect GAAP earnings per diluted share of about $.39 to $.43, including an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.43 to $.47.”
Apple will provide live streaming of its Q2 2006 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. PDT on Wednesday, April 19, 2006 at http://www.apple.com/quicktime/qtv/earningsq206/ and will also be available for replay.
The average estimate of analysts surveyed by Thomson First Call put Apple earnings at $0.43 per share on $4.54 billion in revenue for the latest quarter. In the year ago quarter, Apple earned $0.34 per share on revenue of $3.24 billion.
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Piper Jaffray: Apple to report in-line or slightly below Street earnings estimates – April 19, 2006