iPods, notebooks help Apple double profits
Music players and portable computers boost fourth-quarter revenue to its highest level in nine years.
The fiscal fourth-quarter earnings per share were 50 percent better than Wall Street had expected. Apple shares, which have rallied steadily since late last year, jumped 4 percent in after-hours trade.
Net income for the fiscal fourth quarter ended Sept. 25 rose to $106 million, or 26 cents per share, from $44 million, or 12 cents per share, a year ago.
Revenue rose 37 percent to $2.35 billion from $1.72 billion, which Apple said was its highest fourth-quarter revenue in nine years.
Excluding 1 cent per share in restructuring charges, Apple had a profit of 27 cents a share. Analysts had forecast a profit, on average, of 18 cents a share, on revenue of $2.15 billion, on the same basis.
Apple Chief Financial Officer Peter Oppenheimer said the far-better-than-expected quarter reflected robust sales of the iBook and PowerBook notebook PCs, a 95-percent rise in Apple's retail store business and strong sales to U.S. schools.
In the fourth quarter, PowerBook revenue climbed 20 percent to $419 million, while iPod revenue more than quadrupled to $537 million and accounted for 23 percent of total revenue.
Apple shipped 2.02 million of the popular digital music players, up sixfold from a year ago.
The figure included iPods manufactured by Hewlett-Packard, a new production alliance that accounted for 6 percent of the digital music players sold in the past quarter.
For the current, first quarter, Apple forecast a per-share profit of 39 cents to 42 cents on revenue of $2.8 billion to $2.89 billion.
Analysts had expected a profit of 28 cents per share, on average, within a range of 23 cents to 34 cents, on revenue of $2.52 billion.
In after-hours trade on INET, Apple shares rose 4.4 percent to $41.50. In regular trade on Nasdaq, Apple stock had increased $1.46, or 3.8 percent, to close at $39.75. The stock has gained 109 percent since late December.
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