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As previously reported Apple is hosting its Fourth Quarter Financial Results conference call later today.
The conference call can be listened to here, the call will begin at 14.00 PDT, 17.00 EST and 22.00 BST.
World of Apple will provide an update of all the results as well as the question and answer session during and after the conference call.
With Apple’s Quarter 4 earnings report to take place this Wednesday analysts are betting on what Apple will announce.
Apple looks set to outperform its own guidance of $4.5 billion to $4.6 billion in revenue with earnings per share between 46 cents and 48 cents.
Many analysts believe that strong Intel Mac sales and robust iPod sales will act favourably upon Apple.
Of interest Apple reported $3.68 billion in revenue and sold 6.4 million iPods and 1.2 million Macs in Quarter 4 2005. Q4 2005 was Apple’s best quarter in its history and concluded Apples best year.
Apple today released a press release containing information about the recent stock option investigation which lasted 3 months.
The special committee of outside directors, together with independent counsel and accountants, examined more than 650,000 emails and documents, and conducted interviews with more than 40 current and former employees, directors and advisors. Apple initiated this voluntary independent investigation after a management review discovered irregularities in past stock option grants.
The independent investigation’s key findings are:
“I apologize to Apple’s shareholders and employees for these problems, which happened on my watch. They are completely out of character for Apple,” said Steve Jobs, Apple’s CEO. “We will now work to resolve the remaining issues as quickly as possible and to put the proper remedial measures in place to ensure that this never happens again.”
The company also announced that Fred Anderson, Apple’s former CFO, has resigned from its board of directors. Mr. Anderson, who served as CFO from 1996 until 2004, informed the company that he believes it is in Apple’s best interests that he resign from the board at this time.
The company and its independent auditors are reviewing the findings of the independent investigation. Management continues to believe, and the audit committee agrees, that Apple will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants. The company and its independent auditors are reviewing recent accounting guidance published by the SEC, and have not yet determined the amount of such charges, the resulting tax and accounting impact, or which periods may require restatement. The company continues to proactively inform the SEC of its findings.
Apple today announced that it will reveal its Quarter 4 Financial Results on October 18.
The company is believed to reflect upon the year as a whole and the success of 2006.
Apple is also expected to speak about the stock options irregularities which have over-shadowed Apple in the media lately.
As of last Quarter Apple had sold 3.6 million Macs and 30.6 million iPods, the predicted fourth quarter revenue is said to be about $4.5 to $4.6 billion.
On Friday Apple announced that it will request a hearing before the NASDAQ Listing Qualifications Panel, the company is responding to a letter from NASDAQ claiming that Apple is not in compliance with the filing requirements for continued listing as set forth by Marketplace Rule 4301(c)(14).
Apple claimed that the letter from NASDAQ was not unexpected, it’s in response to Apple’s notification that it will delay the filing of its 10-Q for fiscal quarter ending July 1, 2006.
Until a final decision is made by the NASDAQ panel, Apple shares will remain listed on the NASDAQ Stock Market.
Below are notes from today’s Live Conference Call discussing the Q3 2006 financial results. (In reverse chronological - brought to you by MDN)
Apple today posted their 3rd Quarter 2006 financial results, with revenue of $4.37 billion and a net quarterly profit of $472 million. Compared to year on year of $3.53 billion in revenue and net profit of $320 million.
Apple shipped 1,327,000 Macintosh computers and 8,111,000 iPods during this quarter which represents a 12% growth in Macs and 32% growth in iPods year on year.
Overview of conference call will follow.
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.
