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Apple Reports Record Third Quarter Results.

Summary: AppleA this week announced financial results for its fiscal 2008 third quarter ended June 28, 2008. The Company posted revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share. These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarterCOs revenue.

Apple Reports Record Third Quarter ResultsRevenue Up 38 Percent Year-Over-YearMac Sales Reach All-Time High

AppleA this week announced financial results for its fiscal 2008 third quarter ended June 28, 2008. The Company posted revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share. These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarterCOs revenue. Apple shipped 2,496,000 MacintoshA computers during the quarter, representing 41 percent unit growth and 43 percent revenue growth over the year-ago quarter. The Company sold 11,011,000 iPods during the quarter, representing 12 percent unit growth and seven percent revenue growth over the year-ago quarter. Quarterly iPhoneao units sold were 717,000 compared to 270,000 in the year-ago-quarter. C[pounds sterling]WeCOre proud to report the best June quarter for both revenue and earnings in AppleCOs history,C[yen] said Steve Jobs, AppleCOs CEO. C[pounds sterling]We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and weCOre busy finishing several more wonderful new products to launch in the coming months.C[yen] C[pounds sterling]WeCOre extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008,C[yen] said Peter Oppenheimer, AppleCOs CFO. C[pounds sterling]Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.00.C[yen] Live streaming of Apple Q3 2008 financial results conference call that took place at 2:00 p.m. PDT on Monday, July 21, 2008 at www.apple.com/quicktime/qtv/earningsQ308/, is also available for replay

This press release contains forward-looking statements including without limitation those about the CompanyCOs estimated revenue and earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation potential litigation from the matters investigated by the special committee of the board of directors and the restatement of the CompanyCOs consolidated financial statements; unfavorable results of other legal proceedings; the effect of competitive and economic factors, and the CompanyCOs reaction to those factors, on consumer and business buying decisions with respect to the CompanyCOs products; war, terrorism, public health issues, and other circumstances that could disrupt supply, delivery, or demand of products; continued competitive pressures in the marketplace; the CompanyCOs reliance on sole service providers for iPhone in certain countries; the continued availability on acceptable terms of certain components and services essential to the CompanyCOs business currently obtained by the Company from sole or limited sources; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product transitions, changes in product pricing or mix, and/or increases in component costs could have on the CompanyCOs gross margin; the effect that product quality problems could have on the CompanyCOs sales and operating profits; the inventory risk associated with the CompanyCOs need to order or commit to order product components in advance of customer orders; the effect that the CompanyCOs dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; the CompanyCOs dependency on the performance of distributors and other resellers of the CompanyCOs products; the CompanyCOs reliance on the availability of third-party digital content; and the potential impact of a finding that the Company has infringed on the intellectual property rights of others. More information on potential factors that could affect the CompanyCOs financial results is included from time to time in the CompanyCOs public reports filed with the SEC, including the CompanyCOs Form 10-K for the fiscal year ended September 29, 2007; its Forms 10-Q for the quarters ended December 29, 2007 and March 29, 2008; and its Form 10-Q for the quarter ended June 28, 2008, to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. A[umlaut] 2008 Al Bawaba (www.albawaba.com)

A[umlaut] 2008 Al Bawaba (Albawaba.com)

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Publication:Albawaba.com
Article Type:Financial report
Date:Jul 23, 2008
Words:847
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