Archive notice: This article was originally published on January 23, 2009. Links and embedded videos are preserved as part of the historical record.
Apple announced results for the first quarter of fiscal 2009, which ended on December 27, 2008. During the quarter, Apple generated revenue of $10.17 billion and net income of $1.61 billion, or $1.78 per share. In the year-ago quarter, revenue was $9.6 billion and net income was $1.58 billion, or $1.76 per share. Gross margin was 34.7 percent, exactly the same as in the year-ago quarter. International sales accounted for 46 percent of quarterly revenue.
In accordance with GAAP accounting rules, the company recognizes revenue and cost of sales for iPhone and Apple TV over their economic lives. To eliminate these effects, GAAP revenue and product costs are adjusted; the corresponding non-GAAP figures* for the quarter were $11.8 billion in “adjusted revenue” and $2.3 billion in “adjusted net income.”
Apple shipped 2,524,000 Macintosh computers in the first quarter of fiscal 2009, representing a nine percent increase in unit sales over the comparable year-ago quarter. During the quarter, 22,727,000 iPods were sold, a three percent increase compared with Q1 2008. Apple sold 4,363,000 iPhones during the quarter, 88 percent more than in the comparable year-ago quarter.
“Especially against the backdrop of challenging economic times, we are extremely pleased to have achieved the best quarterly revenue and profit in Apple’s history—for the first time, we exceeded the $10 billion mark in quarterly revenue,” said Steve Jobs, Apple’s CEO.
“Our outstanding results generated an additional $3.6 billion in cash during the last quarter,” added Peter Oppenheimer, Apple’s chief financial officer. “We expect revenue of between $7.6 billion and $8 billion, and between $0.90 and $1.00 per diluted share.”
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