Summary:

Apple’s fiscal fourth quarter profit soared 27 percent to $546 million, or 62 cents per share, fueled by gains in shipments of both iPods an…

Apple’s fiscal fourth quarter profit soared 27 percent to $546 million, or 62 cents per share, fueled by gains in shipments of both iPods and Macintosh computers. The profit, which compares to $430 million, or 50 cents, a year earlier. Sales soared 32 percent to $4.84 billion compared with $3.68 billion. That beat analysts’ forecasts of 51 cents per share on $4.66 billion revenue. Apple shipped 8.7 million iPods, up 30 percent from a year earlier, and 1.3 million Macs, up 35 percent.
CEO Steve Jobs in the earnings release: “The strong quarter caps an extraordinary year for Apple. Looking forward, 2007 is likely going to be one of the most exciting new product years in Apple’s history.”
That’s the good news. Apple also gave guidance for the first fiscal quarter that fell short of Wall Street expectations. The company is expecting revenue of between $6 billion and $6.2 billion and $6.2 billion with earnings of 70 cents to 73 cents, lower than the revenue of $6.45 billion on profit of 77 cents analysts were expecting, according to Thomson Financial.
Further darkening the horizon for Apple is the options backdating issue. The company called its results that were issued today “preliminary.’” In its release, Apple mentioned the review of option awards made between 1997 and 2002 to senior executives including Jobs. Apple and its independent auditors have concluded that the company “will likely need to restate its historical financial statements.” That could result in material changes.
AP: Topping it all off were media reports that Apple shipped some video iPods containing a computer virus, which Apple promptly blamed on Windows. In a statement: “As you might imagine, we are upset at Windows for not being more hardy against such viruses, and even more upset with ourselves for not catching it.” The virus affected less than 1 percent of the video iPods that were available for purchase after Sept. 12.
Earnings | Webcast | Financials| Data

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