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Apple Posts Dramatically Higher Sales, Net Profit

1/23/2008 09:45:00 AM Eastern

Cupertino, Calif. — Apple reported higher sales, net profit and gross margin featuring dramatic unit sales increases for Macintosh, iPods and iPhone for its fiscal first quarter ended Dec. 29, 2007.

Apple posted revenue of $9.6 billion for the quarter, compared to $7.1 billion for the previous year’s first quarter. Net profit was $1.58 billion, up from $1 billion in the previous year and gross margin was 34.7 percent versus 31.2 percent for the previous year’s first quarter.

Apple shipped 2.32 million Macintosh computers, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The company sold 22.1 million iPods during the quarter, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales were 2.32 million.