“Citigroup is modeling for solid fiscal second quarter results from Apple when it reports on April 25th, with revenue and unit shipments generally aligning with the current sell-side consensus. Gross margins, however, should come in well above consensus at 32 percent or more, Gardner said. As a result, he increased his per-share earnings estimate to 73 cents, up from 71 cents and the Street consensus of 63 cents,” Prince McLean reports for AppleInsider.
McLean reports, “The analyst said his checks turned up no evidence of a slowdown in Mac purchases ahead of Leopard and he expects Apple to report sales of around 1.45 million Macs during the quarter, representing 30 percent year-over-year growth. Similarly, iPods sales are expected to grow 27 percent to 10.8 million units. ‘While this is slightly below our prior estimate of 11.5 million units, it is generally in line with consensus of 11.0 million,’ he explained. ‘The mix of U.S. iPod sales appears very consistent with that of the prior quarter (30-35 percent video, 40-45 percent nano and 20-25 percent nano).'”
“Looking ahead to Apple’s fiscal third quarter, Gardner believes Apple will continue its historical trend of guiding conservatively, calling for revenues to be ‘flat to up modestly sequentially’ from the second quarter. However, the analyst said he is sticking with his above-consensus revenue estimate of $5.6 billion as he expects the company to benefit from a full quarter of Apple TV sales, the shipment of Leopard, and iPhone channel fill for Cingular retail stores,” McLean reports. “‘Despite the recent rise in Apple shares from $83 to $94, we continue to like the shares ahead of new product introductions beginning in June,’ Gardner told clients. ‘We would buy any ‘sell the news’ dips following earnings.'”
Much more in the full article here.
MacDailyNews Note: Apple will report Q2 07 quarterly earnings on April 25, 2007.
Apple’s recent earnings and unit sales information:
2004:
• Q1 (ended 12/27/03): revenue of $2.006 billion, net quarterly profit of $63 million, 829,000 Macs, 733,000 iPods
• Q2 (ended 03/27/04): revenue of $1.909 billion, net quarterly profit of $14 million, 749,000 Macs, 807,000 iPods
• Q3 (ended 06/26/04): revenue of $2.014 billion, net quarterly profit of $61 million, 876,000 Macs, 860,000 iPods
• Q4 (ended 09/25/04): revenue of $2.350 billion, net quarterly profit of $106 million, 836,000 Macs, 02.016 million iPods
2005:
• Q1 (ended 12/25/04): revenue of $3.49 billion, net quarterly profit of $295 million, 1.046 million Macs, 04.580 million iPods
• Q2 (ended 03/26/05): revenue of $3.24 billion, net quarterly profit of $290 million, 1.070 million Macs, 05.311 million iPods
• Q3 (ended 07/13/05): revenue of $3.52 billion, net quarterly profit of $320 million, 1.182 million Macs, 06.155 million iPods
• Q4 (ended 10/11/05): revenue of $3.68 billion, net quarterly profit of $430 million, 1.236 million Macs, 06.451 million iPods
2006:
• Q1 (ended 12/31/05): revenue of $5.75 billion, net quarterly profit of $565 million, 1.254 million Macs, 14.043 million iPods
• Q2 (ended 04/01/06): revenue of $4.36 billion, net quarterly profit of $410 million, 1.112 million Macs, 08.526 million iPods
• Q3 (ended 07/01/06): revenue of $4.37 billion, net quarterly profit of $472 million, 1.327 million Macs, 08.111 million iPods
• Q4 (ended 09/30/06): revenue of $4.84 billion, net quarterly profit of $546 million, 1.610 million Macs, 08.729 million iPods
2007:
• Q1 (ended 12/30/06): revenue of $7.10 billion, net quarterly profit of $1 billion, 1.606 million Macs, 21.066 million iPods
