Here is what I jotted down while listening to the conference call.
Apple A4 2007 Results
Introductory remarks by Peter Oppenheimer CFO :
Record results the highest revenue in September ever. Revenue of $6.662 Billion. An increase of 29% vs the prior September quarter, driven by record Mac sales and continued support for iPods. Operating margin was higher than expected at 17.1%. This resulted from higher gross margins and revenue than expected. Net income at 904 million which was up 67% over prior Sept quarter. Earnings per share $1.01.
Mac products and services accounted for 62% of revenue. Shipped 2.16 million Macs. 400,000 more than June which was the previous record which represents 34% growth in quarter to quarter comparisons. Double that of the average growth rate of other tech companies. 31% year over year growth in desktop systems. Sales of portables up 31%.
Portables made up 62% of Macs sold. Ended the quarter with slightly less that 3 weeks worth of inventory.
Music and services accounted for 36% of revenue. Sold 10.2 million iPods. 17 % growth in Ipod sales. 4-6 weeks of inventory at end of quarter. Itune store sales increased 33%. Itunes had 85% of all songs downloaded in the US, 3 billion songs
sold to date and 100 million TV show. Itunes 3rd largest distributor of music in the US
Sold 1.1 million iPhones in the quarter. 95% of iPhone users would recommend iPhone to
Others. IPhone 4th highest selling handset in US. Sales of everything related to iPhone was $118 million. Deferred revenue from iPhone and AppleTV was $636 million. Iphones will begin selling in Europe in November.
Revenue in Apple store was 1.25 billion dollars. 42% year over year growth. 197 total stores with 12 new stores opened during quarter. Average revenue per store was 6.62 million. 5.6 million in year ago quarter. 387,000 members in their pro care programs.
40 Stores scheduled to open including one in New York, Boston, and Beijing.
Higher Ed (school) sales increased 36% yoy. Total company gross margin 33.6%. Higher than expected because of decreasing dollar, cheaper parts, higher margin product sales. Operating Expense 1.03 billion. 58 million in stock based compensation.
I got tired of typing as I was listening so I quit typing. Find out later Seeking Alpha had them all typed out for me. Oh well, mine are much cooler and raw than their stupid word for word transcript.
After you read them come back please.