Apple Announces Fiscal Year Third Quarter Results

Apple has announced financial results for the third quarter of its fiscal year 2008 (April, May and June 2008) ended on June 28, 2008. The company has achieved quarterly sales of 7,464 million dollars (4,701 million Euros) and has obtained a quarterly net profit of 1,070 million dollars (674 million Euros), equivalent to 1.19 dollars per share.

These results are compared to sales of $ 5,410 million (€ 3,407 million) and net profit of $ 818 million (€ 515 million) or $ 0.92 per share, obtained in the same quarter of the previous year. The company’s gross margin was 34.8 percent, down from 36.9 percent in the preceding fiscal year. 42 percent of quarterly sales have been made by Apple outside the US.

Apple sold 2,496,000 Macintosh computers during the quarter, representing an increase of 41 percent in number of units and 43 percent in value over the same quarter of the previous year. The company also sold 11,011,000 iPod units during the quarter, which represents a growth of 12 percent in number of units and 7 percent in value over the same quarter of the previous year. Quarterly iPhone sales reached 717,000 units, compared with 270,000 units in the same quarter last year.

“We are proud to report the best June quarter, both in sales and earnings, in Apple’s history,” says Steve Jobs, Apple’s CEO. “We have set a new record for Mac sales, we think we have a real winner in the iPhone 3G, and we are busy developing some wonderful new products to launch in the coming months.”

“We are highly excited about our business growing and generating nearly $ 5.4 billion in cash flow in the first three quarters of our fiscal 2008,” says Peter Oppenheimer, Apple’s chief financial officer. “For the fourth quarter of fiscal 2008 we expect to achieve sales of approximately $ 7.8 billion and a diluted profit close to $ 1.00 per share.”