Apple posts record earnings

Apple Computer Inc., Cupertino, Calif., USA, announced financial results for its fiscal 2005 third quarter ended June 25, reporting the highest revenue and earnings in its history. Apple posted a net quarterly profit of $320 million, and revenue of $3.52 billion. These results compare to a net profit of $61 million and revenue of $2.01 billion in the year-ago quarter, and represent revenue growth of 75 percent and net profit growth of 425 percent. International sales accounted for 39 percent of the quarter's revenue.

Apple shipped 1,182,000 Macintosh units and 6,155,000 iPods during the quarter, representing 35 percent growth in Macs and 616 percent growth in iPods over the year-ago quarter.

Apple, which has now sold more than 20 million iPods, is seeing the music player create a "halo effect" around its other products, analysts said. The iPod craze is leading consumers to Macintosh computers, The Associated Press reports. But many wonder how long the iPod can fuel Apple's hot streak. Analysts quizzed Apple executives about reports that the company was overstocked with some iPod models. Company executives declined to discuss particulars but denied that demand for iPods had cooled.

Apple recently announced the iPod and iPod photo lines are merging, creating a single line of white iPods that all feature color displays with the ability to view album artwork, photos and play slideshows.

Found via Photomarketing.com Newsline International

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