Earnings: Apple Q4 Revs Jump 28 Percent; Earnings Up 67 Percent; iPhone Sales Hit 1.1 Million
iPhone sales of 1.1 million helped push Apple (NSDQ: AAPL) revenues up 28 percent in Q4 to 6.22 billion from $4.84 billion in the year-ago period. Earnings during the quarter soared 67 percent to $904 million, or $1.01 per share, from $542 million, or $.62 per share, a year ago. Sales of the iPhone totaled 1.39 million through the end of the quarter; the company also sold 10.2 million iPods and 2.1 million Mac computers, for growth of 17 percent and 34 percent respectively. -- Gross margin in the quarter hit 33.6 percent, up from 29.2 percent a year ago. -- International sales now account for 40 percent of total revenue. Release | Webcast Conference Call: It was a pretty easy call for CFO Peter Oppenheimer, who kicked off the call by listing all of the records the company broke during the quarter. In addition to the strong sales growth, the company was helped by a higher margin product mix, the weak dollar, lower commodity prices and more direct sales. It also enjoyed a lower-than-normal tax rate during the quarter, which will not be present going forward. He noted that the company is still on track to sell its first iPhones in Europe next month and that it’s sticking by its prediction of 10 million iPhones sold next year. As for the iPhones already sold, Oppenheimer noted that it took two years to sell as many iPods.