Apple's first-quarter 2004 results saw the company report a net profit of $63 million. Revenue jumped 36 per cent year on year, to $2 billion – a four year high.
That compares to an $8 million loss for the same quarter a year ago. Gross margin for the quarter was 26.7 percent, down from 27.6 per cent for the same quarter a year ago. International sales accounted for 44 per cent of the quarter's revenue, according to Apple.
Apple noted that it shipped 829,000 Macs during the quarter – a 12 per cent increase year over year. Apple shipped 733,000 iPods, a 235 per cent increase year over year – a number first shared with the public by Apple CEO Steve Jobs during last week's Macworld Conference & Expo in San Francisco.
Jobs said in the statement announcing this quarter's results that Apple had an "outstanding quarter" and is kicking off the year "with strong momentum." He reiterated his Macworld Expo keynote news that almost 40 per cent of Apple's installed base has migrated to Mac OS X, and iTunes Music Store holds a 70 percent share of the legal music download market.
News on the financial end is rosy, according to Apple CFO Fred Anderson. Cash increased by $225 million to just under $4.8 billion thanks to strong asset management, he said. Anderson also said that he expects a strong second quarter, anticipating Apple's "third consecutive quarter of year-over-year double-digit growth in both revenue and earnings, with revenue of about $1.8 billion and earnings per diluted share of $0.08 to $0.10."
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