Apple will host its third quarter 2006 financial results on July 19.
Apple is expected to announce average sales of its MP3 Player whilst announcing that sales of Macs have climbed.
During last quarters call Apple chief financial officer Peter Oppenheimer warned investors: “Looking ahead to the third quarter of fiscal 2006, we expect revenue of about $4.2 to $4.4 billion.”
The independent research and consulting provider Generator have published a report showing that Apple’s music business could more than double in the next 5 years.
For the year ending September 2002 music was only 2.6 of Apples total revenue but as of September last year music had grown to 40 percent of Apples revenue and its expected to grow further this year.
“Most people now understand that Apple’s music business is the main source of growth but what’s not widely appreciated is just how big the music business could become in the future. It’s a big worry for some people in the industry,” says Andrew Sheehy, vice president of research at Generator.
It is expected that iPods will continue to be the main source of growth with the iTunes Music Store contributing to 37 percent of total music revenues by 2010.
Back in January Apple very briefly became more valuable than Dell and the feat was recognised by a message from Steve Jobs being sent round to all staff.
Now once again Apple is valued more than Dell with Apple being worth $ 60,777,591,440 compared to that of Dell at $ 59,850,064,460.
Track the ever changing valuations on the NASDAQ website.
These are brief notes of tonight’s Apple Q2 – 2006 Conference Call, the question and answer session is still in progress and we will create a similar report for those results.
Apple today finalised its fiscal 2006 plan for its retail Stores. Peter Oppenheimer said that Apple wishes to open 35-40 new stores by September 2006.
ifoAppleStore has confirmed many of these destinations, Twenty Ninth Street mall is under constructoon in Boulder, Colorado, which is due for an October Grand Opening. As well as the Waterside Shops in Naples, Florida, Topanga Mall near Los Angeles and the First Colony Mall in Sugar Land, Texas.
With Apple reporting its second highest revenue ever it seems that Retail revenues have dropped substantially for the second quarter in a row. Retail sales totalled $634 million which is 11% up year on year quarter but 41% down compared to the previous quarter. Retail profits were also down at $29 million which is down 31% year on year quarter and down 67% from the previous quarter.
CFO Peter Oppenheimer today acknowledged a “pause” in sales in anticipation of future Intel-based products.
Apple today announced financial results for its 2nd Quarter ending April 1 2006. The Company posted revenue of $4.36 billion and a net quarterly profit of $410 million, or $.47 per diluted share.
Apple shipped 1,112,000 Macintosh computers and 8,526,000 iPods during the quarter, representing 4 percent growth in Macs and 61 percent growth in iPods over the year-ago quarter.
“We’ve generated over $10 billion in revenue and almost $1 billion in earnings in the first half of fiscal 2006,” said Steve Jobs, Apple’s CEO. “Our transition to Intel processors is going very well, and our music business just experienced another quarter of outstanding growth.”
“We’re very pleased to report the second highest quarterly sales in Apple’s history, resulting in year-over-year revenue growth of 34 percent and earnings growth of 41 percent,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third quarter of fiscal 2006, we expect revenue of about $4.2 to $4.4 billion. We expect GAAP earnings per diluted share of about $.39 to $.43, including an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.43 to $.47.”
Further coverage of the webcast as it goes on will be provided.
Just a reminder tonight Apple will announce its Quarter 2 – 2006 Financial Results, the webcast will begin at 2PM PT / 5PM ET or for the rest of the world 10PM BST.
Apple Computer has announced that it will holds its Quarter 2 Financial Earnings Call on the 19th of April at 17.00 Eastern time.
AppleInsider is reporting that Apple has formed a new company to manage its large reserves of cash.
Braeburn Capital is an asset management company based in Reno, Nevada, Apple incorporated the company recently and began placing “help wanted” ads looking for financial officers.
BusinessWeek writes, “Apple’s cash reserve has nearly doubled over the last two years. At the end of 2005, Apple had $8.7 billion in cash and short term investments, about 15 percent of its market capitalization,”
Apple commented on the recent investment stating that Braeburn will function as a regional office on par with existing offices in Cupertino, Singapore and Cork.
All seven members of Apple’s Board are up for re-election at the annual shareholders meeting. Filing the request with the Securities and Exchange Commission Apple announced that on Thursday April 27 it will hold the meeting at 4 Infinite Loop in the Town Hall Auditorium.
The agenda set for the meeting includes ratifying the appointment of KPMG LLP as Apple’s independent auditors for the present financial year. Hold a vote for the re-election of the seven current board members.
Last year you may remember that the meeting was interrupted by a group of disgruntled environmentalists and the year before shareholders staged a protest on campus.
As of late February 851,679,185 shares of common Apple stock were either issued or outstanding and each share is entitled to one vote on all matters brought forth at the annual meeting.
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