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Apple Revenue Soars, Income Quadruples

10/12/2005 08:34:00 AM Eastern

Cupertino, Calif. — Strong demand for iPods and personal computers helped Apple Computer boost fiscal fourth-quarter revenue by 57 percent and quadruple net income.

Sales in the three months jumped to $3.7 billion, up from $2.4 billion in the year-ago period. Net income increased to $430 million, compared with $106 million in the same quarter in 2004. Gross margin for the quarter, ended Sept. 24, reached 28.1 percent, up from 27 percent year-on-year.

“We’re thrilled to have concluded the best year in Apple’s history, with 68 percent year-over-year revenue growth and 384 percent net profit growth,” said Steve Jobs, the company’s CEO.

During the fourth quarter, Apple shipped 6.45 million iPods, a 220 percent jump, compared with the year-ago 2 million units, and 1.24 million Macintosh units, representing 48 percent growth in Macs for the quarter, compared with the 836,000 year-on-year.

Revenue for iPods in the fourth quarter increased 126 percent to $1.2 billion, compared with $537 million last year. Total computer revenue rose 31 percent, reaching $1.6 billion, up from $1.2 billion year-on-year.

Sales in the Americas climbed to $1.8 billion in the fourth quarter, up 48 percent from $1.2 billion in the same period a year earlier. Unit shipments rose 35 percent to 636,000 for the three months, compared with 471,000 in the same period in 2004.

Portables revenue jumped 22 percent in the fourth quarter, reaching $824 million, up from a year-earlier $675 million. Unit shipments climbed 41 percent in the three months, to 634,000, compared with 451,000 in the same quarter the prior year.

Desktop revenue rose 42 percent, hitting $787 million in the fourth quarter, compared with a year-ago $556 million. Unit shipments soared 56 percent, reaching 602,000, up from 385,000 in the same quarter in 2004.

For the 12 months, Apple’s revenue climbed 68 percent, hitting $13.9 billion, up from a year-ago $6.3 billion. Net income for the year increased 384 percent, reaching $1.3 billion, compared with $276 million the previous year.

Apple reported that customer traffic for its retail stores grew sharply in the fourth quarter, and that the company now has 124 stores in operation. Average revenue per location rose to $5.7 million, up from $4.6 million.

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