Apple Inc (AAPL)

[tomm]

Apple Reports Third Quarter Results
Wednesday July 14, 4:30 pm ET

Revenue Increases 30 Percent and Net Profit Triples Year-Over-Year

CUPERTINO, Calif., July 14 /PRNewswire-FirstCall/ -- Apple® today announced financial results for its fiscal 2004 third quarter ended June 26, 2004. For the quarter, the Company posted a net profit of $61 million, or $.16 per diluted share. These results compare to a net profit of $19 million, or $.05 per diluted share, in the year-ago quarter. Revenue for the quarter was $2.014 billion, up 30 percent from the year-ago quarter. Gross margin was 27.8 percent, up from 27.7 percent in the year-ago quarter. International sales accounted for 39 percent of the quarter's revenue.

The quarter's results include an after-tax restructuring charge of $6 million. Excluding this charge, the Company's net profit for the quarter would have been $67 million, or $.17 per diluted share.

Apple shipped 876 thousand Macintosh® units and 860 thousand iPods during the quarter, representing a 14 percent increase in CPU units and a 183 percent increase in iPods over the year-ago quarter.