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October 18, 2010

Apple Q4 revenues up 67% to $20.34bn

Expects revenues of $23bn in Q1 2011

By CBR Staff Writer

Apple has posted revenue of $20.34bn and net quarterly income of $4.3bn for its fiscal 2010 fourth quarter ended September 25, 2010, compared to revenue of $12.21bn and net quarterly income of $2.5bn during the same period in 2009.

Gross margin was 36.9%, compared to 41.8% in Q4 2009.

Apple sold 3.89 million Macs during the quarter, representing 27% unit growth over the year-ago quarter.

The company sold 14.1 million iPhones during the quarter .

Quarterly iPods units sold were 9.05 million, down by 11% as compared to previous year-ago-quarter.

For the fiscal year 2010, the company has registered revenues of $65.23bn and net income of $14.01bn as compared to revenue of $42.91bn and net income of $8.24bn during last year.

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Apple chief financial officer Peter Oppenheimer said the company is thrilled with the performance and strength of their business, generating almost $5.7bn in cash flow from operations during the quarter.

"Looking ahead to the first fiscal quarter of 2011, we expect revenue of about $23bn and we expect diluted earnings per share of about $4.80," Oppenheimer said.

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