Apple Reports Third Quarter Results

Apple held its FY 06 Third Quarter Results Conference Call yesterday, to announce the results for its fiscal 2006 third quarter ended July 1, 2006.

The Cupertino Company posted revenue of $4.37 billion and a net quarterly profit of $472 million, or $.54 per diluted share. These results compare to revenue of $3.52 billion and a net profit of $320 million, or $.37 per diluted share, in the year-ago quarter. Gross margin was 30.3 percent, up from 29.7 percent in the year-ago quarter. International sales accounted for 39 percent of the quarter's revenue.

This quarter, Apple shipped 1,327,000 Macintosh computers and 8,111,000 iPods, a good 12 percent growth in Macs and 32 percent growth in iPods over the year-ago quarter. "We're thrilled with the growth of our Mac business, and especially that over 75 percent of the Macs sold during the quarter used Intel processors. This is the smoothest and most successful transition that any of us have ever experienced," said Steve Jobs, Apple's CEO, in the press release. "In addition, iPod continued to earn a US market share of over 75 percent and we are extremely excited about future iPod products in our pipeline."

After the conference Apple Computer shares surged 7.7% to $58.25 in after hours trading on heavy volume.