It’s getting a little bit predictable, but Apple has reported yet another stellar set of quarterly financial results. The company has sold more Macs and iPhones than the same quarter last year, but sales of the iPod were down compared to the same quarter last year. Profits and gross-margins were also up.
The results for the fourth quarter of the 2009 fiscal year are once again very good. Revenue rose from USD 7.9 billion in Q4 2008 to USD 9.87 billion in Q4 of 2009. Net quarterly profit rose from USD 1.14 billion to USD 1.67 billion. Gross margins were 36.6%, whereas in the year-ago quarter it was 34.7%.
Sales of Macintosh computers were up massively over the same quarter last year; they rose 17% to 3.05 million machines, half of which were sold to switchers. The gains were made in the portable department, which saw an increase of 35% in sales, whereas the desktop segment saw a 16% decline.
The company also sold 7.4 million iPhones this quarter, a 7% increase in unit sales. Sales in the iPod division were down 8% to 10.2 million units – of note is that sales of the iPod Touch were up 100% (!) year-over-year.
“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Steve Jobs, “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.”
A conference call is currently under way, and during that call, a few interesting tidbits came out. The mp3 market is dominated by Apple; it owns 70% of the US mp3 player market. iTunes is now the largest online music retailer, probably also in the United States.
All in all, Apple is doing very, very well. The entire industry is seeing increases in sales, but because of Apple’s fat margins, they profit a whole lot more from them.
Unbelievably impressive performance on all fronts. The fact that Mac sales are up so much (during a recession etc) just shows that all the carping about over priced Apple kit is completely misjudged. People seem to really, really want Apple kit and are willing to pay for it.
I am hopeful, in fact I strongly expect, Apple to move ahead briskly on the innovation front in the coming year when we can expect to see the emergence of products using new chip technology arising from Apple’s purchase of PA Semi (the chip design company) last year. Apple doesn’t buy many companies and when they do its usually for very strategic reasons. Its competitors are still trying to catch up with the iPhone but Apple is already moving beyond that. As Steve Jobs said – “Apple tries to skate to where the puck is going to be not where it is”.
I am just glad I put so much of my retirement fund into Apple shares quite some time ago.
Edited 2009-10-19 22:02 UTC