Apple has announced record results for its first quarter 2007, which ended 30 December 2006.

Revenue reached $7.1 billion and net quarterly profit hit $1.0 billion, or $1.14 per diluted share. These results compare to revenue of $5.7 billion and net quarterly profit of $565 million, or $.65 per diluted share, in the year-ago quarter.

Gross margins climbed to 31.2 per cent, up from 27.2 per cent in the year-ago quarter. International sales accounted for 42 per cent of the quarter’s revenue.

Apple shipped 1,606,000 Macs and an analyst-estimate-beating 21,066,000 iPods during the quarter, representing 28 per cent growth in Macs and 50 per cent growth in iPods when compared to last year's equivalent (and record-breaking) quarter.

“We are incredibly pleased to report record quarterly revenue of over $7 billion and record earnings of $1 billion,” said Apple CEO Steve Jobs. “We’ve just kicked off what is going to be a very strong new product year for Apple by launching Apple TV and the revolutionary iPhone.”

Cash reserves grew, too. “We generated over $1.75 billion in cash during the quarter to end with $11.9 billion,” said Peter Oppenheimer, Apple’s chief financial officer (CFO).

Oppenheimer offered a conservative target for Apple's second quarter (the current quarter).

"We expect revenue of $4.8 to $4.9 billion and earnings per diluted share of $.54 to $.56," he explained.

The financial results conference call is available now for playback in QuickTime format.