Apple won't expense employee stock options, despite a shareholder vote in favour of the same, Apple revealed in its quarterly report yesterday.

Apple is waiting for US financial regulatory authorities to issue guidance to companies on how to expense stock options. All US companies will soon be required to expense employee stock options in this way.

"Apple does not currently intend to expense the value of employee stock options until the new accounting standard on the matter," the report says.

The company wants to respond to financial guidance so as to set up accountancy systems that meets the needs of US financial legislation.

The report also looks at the product launches that have taken place so far this year. These have included iTunes 4, the iTunes Music Store, new iPods, Xserve and Xserve RAID, PowerBooks, Power Macs, new displays, and reduced display prices, Final Cut Pro 4, DVD Studio Pro 2, Shake 3, Final cut Express and Keynote.

The report does not refer to the upgraded iBook and eMac range, nor to Apple's currently-in beta Safari Web browser.

Apple's shares have continued their rise since the announcement of the iTunes Music Store. The company's stock currently stands at $18.67, its highest value since July 5 2002. Trading in Apple stock has also been heavy in recent weeks.