Apple's net sales have grown nearly four times in just five years.
The company filed restated financial results in December. These results showed an $84million charge for historical options irregularities, but also show continued and sustained growth for the company.
According to the company's Form 10-K, Apple's net sales in FY 2002 reached $5,742 million. Net sales have grown each year since then, as follows: $6,207 million in 2003; $8,279 million in 2004; $13,931 million in 2005; achieving phenomenal growth in 2006 with $19,315 million. Net income climbed from $42 million in 2002 to $1,989 million in 2006.
Whichever way you look at it, these results are impressive for a company once rejected as a dead duck.
The results also confirm a mass migration from desktop to portable systems among most PC users.
For the quarter ended 30 September 2006, Apple saw desktop sales drop 3 per cent, to 2,434,000 (year-on-year); however, portable sales saw an incredible 43 per cent growth, with 4,056,000 units sold.
"Mac net sales increased $1.1 billion or 18 per cent during 2006 compared to 2005. Unit sales increased by 769,000 units or 17 per cent during 2006 compared to 2005," the company observed, citing strong demand for MacBooks and MacBook Pros.
Apple reflects that its desktop sales were impacted by the relatively late release of the Intel processor-powered Mac Pro in August 2006, and the need for professional applications (such as Photoshop) designed to take full advantage of the new Intel processors.
iPod sales also climbed in the quarter by a very respectable 69 per cent, with 7,676,000 iPods sold.
Apple revealed: "Net sales of iPods increased $3.1 billion or 69 per cent during 2006 compared to 2005. Unit sales of iPods totalled 39.4 million in 2006, which represents an increase of 75 per cent from 22.5 million iPod units sold in 2005," the company management wrote in the SEC filing.
The "other music-related products and services" category – which includes iTunes sales, iPod services and sale of third-party iPod accessories – also climbed by 110 per cent, adding $1,885 million to the company's bottom line. Apple confirmed significant growth in iTunes sales through its US online media store.
Net sales of software, services and other sales climbed $188 million or 17 per cent, year on year.