Apple Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 27, 2014; Provides Earnings Guidance for the Second Quarter of 2015; Declares Cash Dividend, Payable on February 12, 2015
January 28, 2015 at 03:03 am IST
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Apple Inc. announced unaudited consolidated earnings results for the first quarter ended December 27, 2014. For the quarter, the company reported net sales of $74,599 million against $57,594 million a year ago. Operating income was $24,246 million against $17,463 million a year ago. Income before provision for income taxes was $24,416 million against $17,709 million a year ago. Net income was $18,024 million or $3.06 diluted per share against $13,072 million or $2.07 diluted per share a year ago. Cash generated by operating activities was $33,722 million against $22,670 million a year ago. Payments for acquisition of property, plant and equipment was $3,217 million against $1,985 million a year ago. Payments for acquisition of intangible assets were $48 million against $59 million a year ago. Profit had soared to a record high on the back of unprecedented iPhone sales.
For the second quarter, the company expects revenue to be between $52 billion and $55 billion compared to $45.6 billion in the year-ago quarter. And this represents a very significant revenue increase despite growing foreign exchange headwinds from the continued strengthening of the U.S. dollar against most currencies. The company expects gross margin to be between 38.5% and 39.5%, OpEx to be between $5.4 billion and $5.5 billion, and expects the tax rate to be about 26.3%.
The board of directors has declared a cash dividend of $0.47 per share of the company's common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.
Apple Inc. specializes in the design, manufacture and marketing of computer hardware and music supports. Net sales break down by family of products and services as follows:
- telephone products (52.1%): iPhone brand;
- peripheral devices (10.5%): screens, storage systems, printers, video camera, memory cards, server, switches, etc.;
- computers (10.2%): laptops (MacBook, MacBook Air and MacBook Pro brands) and PCs (iMac, Mac mini, Mac Pro and Xserve);
- music support (7.4%): music readers iPod and iPad and accessories;
- other (19.8%): software, maintenance service and Internet access service, etc.
Net sales are distributed geographically as follows: Americas (42.4%), China/Hong Kong/Taiwan (18.9%), Japan (6.3%), Asia/Pacific (7.7%) and Europe/India/Middle East/Africa (24.7%).
Apple Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 27, 2014; Provides Earnings Guidance for the Second Quarter of 2015; Declares Cash Dividend, Payable on February 12, 2015