Apple Sets Records with First-Quarter Performance

Jan. 21, 2009
iPod and iPhone sales rise; revenue surpasses $10 billion.

The economy may be down, but you wouldn't know it by the first-quarter results of Apple, maker of the iPhone, iPod and Macintosh computer. The Cupertino, Calif.-based company on Wednesday reported record revenue of $10.17 billion and record net quarterly profit of $1.61 billion, or $1.78 per diluted share, for the fiscal 2009 first-quarter, which ended Dec. 27, 2008.

During the same period a year ago, Apple's revenue was $9.6 billion and net quarterly profit was $1.58, or $1.76 per diluted share.

"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history -- surpassing $10 billion in quarterly revenue for the first time ever," said Apple CEO Steve Jobs in the company's earnings release. Jobs has taken a medical leave of absence until June.

Apple's financial fortunes grew on sales of its iPhone, of which 4.36 million were sold in the first quarter. That number represents 88% unit growth over the year-ago quarter. Additionally, the company sold a quarterly record 22.3 million iPods, up 3% over the same period one year ago. Apple sold 2.52 million Macintosh computers, which represents 9% unit growth over a year ago.

Looking forward, Apple CFO Peter Oppenheimer forecast second-quarter revenue in the range of $7.6 billion to $8 billion and diluted earnings per share in the range of 90 cents to $1.

About the Author

Jill Jusko

Bio: Jill Jusko is executive editor for IndustryWeek. She has been writing about manufacturing operations leadership for more than 20 years. Her coverage spotlights companies that are in pursuit of world-class results in quality, productivity, cost and other benchmarks by implementing the latest continuous improvement and lean/Six-Sigma strategies. Jill also coordinates IndustryWeek’s Best Plants Awards Program, which annually salutes the leading manufacturing facilities in North America.

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