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Note: This is an aborted summary due to Apple technology failure. Since we are in Beta, we aren't going to go back in fix this. Much of the data below is from the press release, but we caught parts of the conference, including the last 15 minutes of Q&A (see below).
conference date: April 19, 2006
for quarter ending: April 1, 2006 (Q2 2006)
Overview: Apple misses mark with only 8.5 million iPods sold due to seasonal weakness. Guidance for next quarter is weak. Year-over-year comparisons the main bright spot for fashion leader.
Additional analysis: the conference was often inaudible while we listened, probably due to QuickTime or inadequate server bandwidth. Failure to use AMD processors makes newer Macs inferior to AMD-based Windows and Linux computers. If the iPod goes out of fashion Apple will be in trouble, but for now look forward to a good consumer-driven year end.
Basic data: $4.36 billion revenues, net profit of $410 million or .47 per share, down from the prior quarter but up from prior year (rev. up 34%, earnings up 41%). Revenues down 24% from prior quarter revenues of $5.75 billion.
Sold 1.1 million computers and 8.5 million iPods.
13.1 % operating margin.
Mac units up 4% year-over-year. New lines with Intel processors were introduced. Purchasing delays as some customers wait for full Intel line up to be announced.
Guidance: $4.2 to $4.4 billion revenues for Q3, with .39 to .43 earnings per share.
Conference Highlights: Tech failure.
Q&A: inaudible until about 2:30 PM
Same store sales for Macs down? Not exactly a yes, but attributed situation to people waiting for Intel-based models.
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