Apple’s Profits Up Big Time

US Highest quarter in 9 years 14/10/04

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Source: eWeek.com
Apple’s fortunes continue to improve as outlined in recent financial figures. The company’s strong sales of laptops and iPods helped gain a $2.3 billion revenue. This represents an increase of 37% over the same period last year. Where they didn’t do so well was the new G5 desktops. This is due to slower than expected deliveries of the IBM G5 chips, leading to a slow down of the number of systems going out of the door (Tell me about it – I’ve had a dual 2.5GHZ on order for over 2 –weeks in the UK) "All models of the Power Mac and iMac were constrained due to the lower than anticipated supply. We had expected the PowerMac dual 1.8GHz and 2GHz configurations to reach a supply-demand balance in August and that did not happen due to yield issues. We had expected the Power Mac dual 2.5GHz and iMac G5 to be short during the quarter but the supply of both of those were less than anticipated.” Said Timothy Cook, VP of worldwide sales and operations. Apple hopes to improve stock levels in the current quarter leading up to the holiday period. However a 74% increase in iBook sales must give them cause for celebration. Further sales increases were attributed to Apple’s continuing to expansion of its retail chain, adding six new stores during the fourth quarter. The company opened its first European market store in London, joining its two other international stores in Japan. The company expects to open additional stores in the United Kingdom and Japan later in 2005.

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