Apple posts record Q1 revs

By Colleen Taylor -- Electronic News, 1/18/2007

Consumer electronics giant Apple Inc. announced another record-setting financial quarter Wednesday for its Q1 ended December 30.

The company posted record revenue of $7.1 billion, up from the company's $4.84 billion Q4 sales and the $5.7 billion revenues it recorded in Q1 2006. Apple also posted record net quarterly profits of $1.0 billion in Q1, up from the $546 million in profits it made in Q4 and the $565 million it made in Q1 2006. Gross margin was 31.2 percent, up from 29.2 percent in Q4 and from 27.2 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter's revenue, Apple said.

And the popularity of the seemingly ubiquitous iPod shows no signs of slowing. Apple said it shipped 1,606,000 Macintosh computers and 21,066,000 iPods during the quarter, representing 28 percent growth in Macs and 50 percent growth in iPods over the year-ago quarter.

"We are incredibly pleased to report record quarterly revenue of over $7 billion and record earnings of $1 billion," said Steve Jobs, Apple's CEO. "We've just kicked off what is going to be a very strong new product year for Apple by launching Apple TV and the revolutionary iPhone."

Looking ahead to Q2, the company said it expects revenue of $4.8 to $4.9 billion.