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conference date: January 17, 2007 at 2 PM Pacific Time
for quarter ending: December 30, 2006 (Q1 2007)
The information below is from the press release. I was not able to listen and summarize the conference because of inaudible streaming through Quicktime. This happens every Apple conference. My experiences with Apple, Inc. products has been so bad over the years that I am no longer going to cover the company. This is in no way a reflection on the value of the stock of Apple. Mr. Jobs seems to be able to mesmerize certain people with high-priced, high margin, high profit products. I hear he can even travel in time, taking stock options with him.
Overview:
Basic data:
$7.1 billion revenue is up 47% sequentially from $4.84 billion and up 24.6% from $5.7 billion in the year-earlier quarter (Fiscal Q1 2006).
Net profit was $1.0 billion or $1.14 per share.
Gross margin was 31.2%, up from 27.2% year-earlier.
Ended with 11.9 billion in cash, up $1.75 billion.
Guidance:
"Looking ahead to the second fiscal quarter of 2007, we expect revenue of $4.8 to $4.9 billion and earnings per diluted share of $.54 to $.56."
Conference Highlights:
1.6 million Macs were shipped, up 28% over year-earlier. 21 million iPods were shipped, up 50%.
Inventories increased from $270 million to $303 million.
Q&A:
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Disclaimer: Our analyst summaries may include both our condensations of statements made by company representatives and our own analysis. They are not covered by any warranty. We cannot guarantee anything said by company representatives is true. Before making or terminating an investment you should always verify any factual basis of your decision.