Apple posts quarterly net profit of $1.14b

Dubai: Apple posted revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share, according to financial results announced this week for its fiscal 2008 fourth quarter ending September 27, 2008.

The results compare to revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share, in the year-ago quarter. Gross margin was 34.7 per cent, up from 33.6 per cent in the year-ago quarter. International sales accounted for 41 per cent of the quarter's revenue.

In accordance with the subscription accounting treatment required by GAAP, the company recognizes revenue and cost of goods sold for iPhone and Apple TV over their economic lives.

Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures for the quarter are $11.68 billion of "Adjusted Sales" and $2.44 billion of "Adjusted Net Income."

Apple shipped 2,611,000 Macintosh computers during the quarter, representing 21 per cent unit growth and 17 per cent revenue growth over the year-ago quarter.

The Company sold 11,052,000 iPods during the quarter, representing eight percent unit growth and three percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 6,892,000 compared to 1,119,000 in the year-ago-quarter.