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Apple profits in 2002 Q1

Apple profits in 2002 Q1

Apple met analysts anticipations, confirming a internet first quarter 2002 profit of $38 million ($.11 per share) during its financial call yesterday.

Analysts polled by Thomson Financial/First Call expected Apple to report earnings per share of $.11, throughout the quarter ended December 29, 2001.

The outcomes contrast positively with Apple’s first quarter 2001 results, where the organization came back a internet lack of $195 million ($.58 per share), attributed at that time to delays shipping Mac OS X, delays shipping its then new Power Mac pc G4 range, and inventory problems.

Revenue rise

Revenue for that first quarter of fiscal 2002 was $1.38 billion Up 37 percent from last year, with worldwide sales adding 48 percent from the total.

The organization shipped 746,000 Macs throughout the quarter. Apple had greater than 800,000 people to its recently opened up chain of 27 stores in December.

Apple Chief executive officer Jobs stated: “Apple shipped a good quarter, and is among the couple of companies making money in pcs over these challenging occasions.”

Innovation

Reiterating claims made a week ago concerning the company’s intends to innovate from recession, he stated: “During last quarter we ongoing our technique of innovation. We released the extremely popular ipod device, and offered greater than 125,000 of these in 2 several weeks.”

Apple’s revenue within the Americas elevated 34 percent from last year. Revenue in Europe, the center East and Africa increased 11 percent, while revenue from Japan soared 118 percent, the organization stated.

Searching towards the second quarter, Apple wants revenue of approximately $1.5 billion, with earnings per share remaining flat, Fred Anderson, Apple’s chief financial officer, stated.

Elevated growth

The organization wants more powerful growth for that other half from the fiscal year, or even the 6 month-period starting in March, Anderson stated. This is driven by sales of recent and lately released items for example ipod device, imac desktop, Apple-only software, the transition to OS X, and purchasers at Apple stores, Anderson stated.

“We are very happy to have shipped healthy results while keeping lean funnel inventories in an exceedingly challenging atmosphere,” stated Anderson. “Our balance sheet remains quite strong, with almost $4.4 billion in cash,” he observed.

Apple required in revenue of $48 million from the stores throughout the quarter just ended, Anderson stated.

The financial results announcement remains readily available for viewing using QuickTime.

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